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Market Watch: Light Storage Build Sends Nymex Higher
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September gas futures climbed 3.6¢ Thursday to $2.758 per million Btu after a smaller-than-expected weekly storage build.
“The tighter-than-anticipated print reinforces the market's recent tightening bias, suggesting that steady power demand and firm export pulls continue to absorb supply more effectively than the market had modeled heading into the report,” Gelber & Associates said.