June natural gas prices traded higher during the initial morning hours, building off of yesterday's outside day reversal. While there has been a number of conflicting weather forecasts this week that have made it difficult to estimate demand for natural gas, the market seemed to draft support on hopes of a smaller storage injection in tomorrow's EIA report. In the meantime, some traders were concerned that the market might have reached overbought territory during the May advance.
Tuesday, May 21, 2013 As of 9:32 PM EDT
U.S. EDITION
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