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EIA - Natural Gas Prices Muted Thursday After EIA's Storage Build Matches Market Expectations; Forecast Injections Remain Bearish
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Investment Thesis
Until we begin to see strong heat signals showing up in the forecast models, upside potential will remain limited. Expect for prices to remain rangebound.
Natural gas market trades lower Thursday after EIA's storage build came in line with expectations
The Energy Information Administration ((EIA)) released its weekly storage report on Thursday morning. The report revealed an inventory build of 85 BCF for the week ending May 3, in line with consensus estimates of 87 BCF. The build of 85 BCF for the week ending May 3 is compared to the 85 BCF