May natural gas prices were mostly flat during the overnight and early morning hours. Yesterday high volume session saw prices spike above the $2.05 level in the wake of EIA storage data that showed a smaller than expected injection of 8 bcf. This brought total storage to 2,487 bcf or 58.7% above the 5 year average. Over the last four weeks natural gas storage has increased 118 bcf. However, Henry Hub natural gas cash prices slipped to their lowest level since September 2009, to an average of $1.87.
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