October natural gas prices seemed to shrug off yesterday's EIA inventory data that showed a larger than expected injection. EIA storage data showed an injection of 66 bcf last week. Total storage stands at 3,374 bcf or 12.0% above the 5 year average. Over the last four weeks natural gas storage has increased 157 bcf. The natural gas market could be finding support from the latest six to 10 day weather maps that show above normal temperatures along the southern part of the country, which is expected to lift air-conditioning demand for natural gas.
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