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Energy Market Continues to Look Amazingly Good

July 19, 2013 at 1:00 by Vladimir Vyun

Natural gas gained today even as US stockpiles expanded. The Energy Information Administration reported that natural gas inventories grew by 58 billion cubic feet last week. The increase was below the consensus forecast of 65 billion. The commodity also gained as hot weather increased demand from power plants.

Crude oil and gasoline advanced today too. Gasoline rallied as refineries unexpectedly halted. All in all, the energy market continues to look amazingly good compared to other markets, which are mixed at best.

August futures for natural gas jumped as much $0.182 (5 percent) to $3.811 per million British thermal units on NYMEX. Gasoline was up $0.0277 (0.89 percent) to $3.1375 per gallon. Brent crude oil advanced $0.16 (0.15 percent) to $108.86 per barrel as of 1:00 GMT on ICE today.

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