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Daily Prices

8/30/24

Natural Gas Futures Pare Losses on In-line Storage Build as Weather Cools

By Jodi Shafto

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Published in: Daily Gas Price Index Filed under:

Natural gas futures reversed early steeper losses but held the downside following the latest storage data, which outlined a largely expected injection for the week ended Aug. 23.

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In its debut as the lead contract, October Nymex natural gas futures were down 4.0 cents to $2.057/MMBtu ahead of the 10:30 a.m. ET government report. The freshly anointed prompt month contract pared losses as the data hit the screen to $2.077. By 11 a.m. ET it was trading down 1.5 cents at $2.082.

The U.S. Energy Information Administration (EIA) data showed a 35 Bcf build to storage facilities across the Lower 48. The injection was within the wide range of estimates ahead of the print.

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Jodi Shafto

Jodi Shafto joined NGI as a Senior Natural Gas Reporter in October 2023. Before that, she was a business news reporter for South Carolina's largest daily newspaper, The Post and Courier, and was a Senior Energy Markets Reporter at S&P Global Market Intelligence. Based out of Charleston, Jodi has covered US energy markets since 2005 as a reporter, editor and analyst. A New Jersey native, she holds a BS in Journalism from Bowling Green State University.