Commodity Blog

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Natural Gas Ignores Bearish Supply Data

May 14, 2015 at 19:19 by Vladimir Vyun

Natural gas rallied today despite bearish supply data from the US Energy Information Administration. The EIA reported that US stockpiles grew by 111 billion cubic feet last week. On top of that, there was a report about a surprise increase of production in North Dakota.

Yet with all the negative news, the commodity demonstrated substantial gains today. Market analysts speculated that the possible reason for the rally is forecasts that promised colder weather in the United States this week that may lead to a small increase in demand.

June futures for delivery of natural gas rose as much as 2.42 percent to $3.01 per million British thermal units on NYMEX today.

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

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