Solid summer heat continues to support US natural gas futures, although the chance that prices will break to the upside of the current trading range are fading. Why? Although the storage surplus is seemingly in freefall, it's still large enough to prevent a retest of strong psychological resistance at $3 any time soon. The US August natural gas contract lost about 1.6% last week, slipping into the weekend in the mid-$2.70s per million Btu.
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