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Market Watch

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Traders arrested a four-session, $1.397 drop in October gas futures Wednesday, with the prompt month rising 6.2¢ to $7.779 per million Btu. The recovery could have been more dramatic if a morning rally into the $8-teens had held; however, increasingly bearish storage and production optics could hold any gas futures rallies in check for now. The 2023 calendar strip fell 5.3¢ to $5.86 as the spring through winter contracts saw modest losses in the 5¢-7¢ range; the 12-month strip was down 2¢ to $6.448 (Futures contracts).

Topics:
Gas Demand, Gas Inventories, Gas Supply, Gas Prices, Gas Pipelines
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