July natural gas prices registered a lower low in early morning action and fell to their lowest level since April 27. Yesterdays EIA storage report showed a slightly larger than expected injection of 62 bcf and brought total storage to 2,877 bcf or 31.4% above the 5 year average. Over the last four weeks natural gas storage has increased 271 bcf. While the latest weather maps continue to show a period of above normal temperatures across key demand areas of the US, it appears that the more dominant concern for the market is sluggish demand and still elevated levels of production.
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