US Natural Gas Futures Inch Down Though Storage Surplus Shrinking

摘要

US natural gas futures for July ended the week in the upper $2.20s after a mid-week attempt by bulls to push the contract into the $2.50s fell short. The contract gained a couple of cents Friday in lackluster trading in contrast to recent heightened volatility. July futures staged a two-session, 12c rally that pushed the contract into the upper $2.40s early in the week. But that was followed by a two-session, 17c decline into the mid- to upper $2.20s. Much of that loss came on Thursday, when the July gas contract fell 6% after the storage data reminded traders about the overwhelming glut of gas still in the ground.