June natural gas prices traded higher during the overnight and initial morning hours. Yesterday's EIA storage report showed a larger than expected weekly injection of 61 bcf. This brought total storage to 2,667 bcf or 40.8% above the 5 year average. Over the last four weeks natural gas storage has increased 166 bcf. The impressive rally in natural gas from the April low have fostered some concern that higher prices might begin to choke off demand coming from coal-to-gas switching.
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