August natural gas prices appear to be in the process of recovering from this week's peak to trough decline of 10.6%. The market experienced follow-through weakness during yesterday's session after EIA storage data showed a slightly larger than expected injection of 57 bcf. This was the ninth week in a row that weekly injections have come in below year ago levels. Despite the smaller injections, total storage stands at a record high level for this time of the year at 3,063 bcf, or 25.0% above the 5 year average. Over the last four weeks natural gas storage has increased 248 bcf.
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