December natural gas consolidated yesterday's gains during the early morning trade, spending most of the time dancing around unchanged levels. Some traders viewed yesterday's action as a positive for natural gas, with its ability to rally despite US storage levels reaching a new record high. Yesterday's EIA storage report showed a smaller than expected injection of 19 bcf. This brought total storage levels to 3,850 bcf. It also expanded the current to 5-year average surplus to 6.2%.
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