April natural gas prices managed to rally Wednesday afternoon, helped by a short covering rally as traders dealt with March option expiration. Looking ahead, the natural gas market faces the expiration of the March futures contract, which could lead to additional short covering after the recent plunge in prices. The EIA also reports their natural gas storage report this morning, which is expected to show a decline on the week of around 90 bcf. For the same week last year, storage levels were down 174 bcf.
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