Meager Storage Build Pushes Gas to Nine-Month High

摘要

With summer at hand and cooling loads beginning to build, a storage build about 30 billion cubic feet shy of market expectations sent US natural gas futures soaring last week and got the market talking about the possibility of $3 gas. But when -- or even if -- the contract could mount that kind of advance is questionable given the existing storage glut. Last week's rally that had added 21.9￠, or 9.1% to the July contract by Thursday fizzled Friday, with the prompt month settling for a 6.6% gain for the week.