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Natural Gas Gains as Stockpiles Grow Less Than Expected

September 8, 2016 at 17:11 by Vladimir Vyun

Futures for natural gas rallied today thanks to the bullish supply report from the US Energy Information Administration. The EIA reported that US stockpiles of gas increased by 36 billion cubic feet last week. It was a smaller gain that the predicted 44 billion and the previous week’s 51 billion.

Yesterday, prices for natural gas sank, reaching the lowest level in two weeks, due to waning seasonal demand. Usage of the commodity Water Bounce Houses increase in summer (due to air conditioning) and winter (for heating). Demand for it is limited during spring and autumn.

October futures for natural gas jumped 4.78% to $2.8 per million British thermal units as of 17:03 GMT on NYMEX today.

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

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