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Natural Gas Falls on Growing Supplies, Oil Extends Rally

November 4, 2010 at 21:07 by Vladimir Vyun

Natural gas declined today on report about growing supplies in the US. US stockpiles rose 67 billion cubic feet to 3.821 trillion last week. The expected increase was 64 billion. December futures for natural gas delivery slipped $0.069 (1.8 percent) to $3.767 per million British thermal units by 13:11 on NYMEX.

Oil extended its rally today as quantitative easing by the Federal Reserve spurred commodity prices. Dollar weakness may boost oil even higher. Analysts say they wouldn’t be surprise to see three-digit figure by the end of the year. December delivery for oil gained $1.53 (1.8 percent) to $86.22 per barrel as of 13:37 on NYMEX.

If you have any questions and comments on the commodities today, use the form below to reply.

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