US natural Gas prices rebound on storage surprise – ING
Source Fxstreet
US natural Gas prices rebounded after three days of losses, supported by a smaller-than-expected storage build. Lower inventory growth may signal tighter supply dynamics in the weeks ahead, ING's commodity experts Ewa Manthey and Warren Patterson note.
Gas rises as EIA reports smaller-than-expected build
"US natural Gas prices settled higher yesterday, ending a three-day streak of downward pressure on prices. The Energy Information Administration reported yesterday that US natural Gas storage increased by 23 bcf over the last week, which was lower than the 27 bcf increase the market was expecting and below the 5-year average increase of 30 bcf."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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