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MARKET VIEW

As Weather Support Fades, Volatility Will Still Linger

Copyright © 2021 Energy Intelligence Group
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The fading likelihood that US gas storage inventories will enter the winter heating season at a significant deficit to seasonal averages had bulls and bears wrestling for control of the natural gas futures market for much of last week. The November gas contract plunged just under $5 per million Btu psychological support Oct. 18, culminating a two-session, 69.8¢ swan dive; but lingering upside risk gave prices plenty of room to run higher even if they lacked fundamental support.

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