Natural gas prices dropped despite soaring temperatures and the forecast of warmer than normal temperatures forecast to cover most of the United States for the next 8-14 days.
Net injections into storage totaled 66 Bcf, compared with the five-year average net injection of 72 Bcf and last year’s net injections of 48 Bcf during the same week.
Working gas stocks totaled 2,074 Bcf, which is 501 Bcf lower than the five-year average and 735 Bcf lower than last year at this time, according to the EIA.
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