September natural gas prices began the Thursday evening session on a weaker tone and slipped to their lowest level since July 18th in the process. The market came under heavy selling pressure yesterday in response to the EIA weekly storage report that showed a larger than expected injection of 28 bcf. While it was the 14th consecutive week that the weekly injections came in below year ago levels, it was taken as a negative. Total storage stands at 3,217 bcf or 14.5% above the 5 year average. Over the last four weeks natural gas storage has increased 115 bcf. Weather forecasts out into August 16 forecast extremely hot temperatures moving west, leaving the Northeast and Midwest region would normal temperatures.
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