NatGas To Move Above $3 As Storage Surplus Plunges Amid Record-Breaking Heat

July 12, 2012

The bias in natural gas continues to be higher as sizzling summer temperatures boost demand.


Natural gas prices have remained steady over the past few weeks, as record-breaking summer temperatures boost demand for electricity, and in turn, gas itself.



Today, the EIA reported that operators injected 33 billion cube feet into storage last week. That was above the 25 bcf that analysts were expecting, but well below last year’s build of 84 bcf and the five-year average build of 87 bcf.




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