Natural gas futures in the United States rose before the inventory data was released.
With the market awaiting the weekly inventory data to be released by the US Energy Information Administration at 10:30 am Eastern Time, US natural gas futures are rising. Gary Cunningham of Tradition Energy stated in a report that predictions for inventory injections have a wide range, making it difficult to anticipate market reaction, "but if the data is in the 70s, it should keep the bulls in control, while if the data is in the high 80s, we may see them selling off and seeking cover." He added that the surplus in inventory, compared to the five-year average, is expected to increase, but this is unlikely to offset the bullish sentiment brought on by export growth and the potential for limited growth in associated gas production due to falling oil prices. Analysts surveyed by The Wall Street Journal expect inventories to increase by 820 billion cubic feet. Natural gas futures on NYMEX rose by 0.7%, to $3.167 per million British thermal units.
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