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Market Watch

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October gas futures plunged 69¢ to $7.089 per million Btu Thursday in the wake of an unexpectedly robust triple-digit storage build that seemingly confirmed just how bearish market fundaments have become. Nonetheless, a price rebound is likely as it's impossible to say if inventories on Oct. 31 will be adequate to meet heating season demand. The 12-month strip fell 38.5¢ to $6.063; the 2023 calendar strip was down 27¢ to $5.59 (Futures contracts).

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