October natural gas came under pressure during the overnight and early morning hours, as Katia was downgraded to a Tropical Storm and Tropical System number 13 has lost a level of strength. Additionally, the latest 6 to 10 day weather maps show below normal temperatures for the mid-southeastern US and moderating temperatures throughout most of the eastern US. These cooler temperatures are seen as a force taking pressure off of air conditioning demand. Yesterday's EIA storage report showed a smaller than expected injection of 55 bcf. Current storage stands at 2,961 bcf or 2.0% below the 5 year average. Over the last four weeks natural gas storage has increased 203 bcf.
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