Market Watch

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Soaring August gas futures pulled back at expiry, falling 30.6¢, or 3.5%, to roll off the board at $8.687 per million Btu. That the August contract finale was in the ballpark of the $8.908/MMBtu June contract settlement shows how storage concerns have reemerged after being knocked down by Jun. 8 Freeport LNG explosion and fire that curtailed 2 billion cubic feet per day of gas demand. But torrid summer heat has not only absorbed that gas; it has blunted the seasonal storage refill and widened the now 328 Bcf deficit to the five-year average.

Gas Demand, Gas Inventories, Gas Supply, Gas Prices, Gas Pipelines
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