USA Natural Gas Storage 71B Vs 69B Est.; 74B Prior
Portfolio Pulse from Benzinga Newsdesk
The latest report on USA natural gas storage shows an increase of 71 billion cubic feet, which is higher than the estimated 69 billion cubic feet but lower than the previous week's 74 billion cubic feet.
June 21, 2024 | 2:30 pm
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The United States Natural Gas Fund (UNG) may experience short-term price fluctuations due to the latest natural gas storage report showing an increase of 71 billion cubic feet, which is higher than the estimated 69 billion cubic feet but lower than the previous week's 74 billion cubic feet.
The increase in natural gas storage is higher than expected, which could indicate a potential oversupply in the market. However, the figure is lower than the previous week's, which may balance the impact. This mixed data is likely to result in neutral short-term price movements for UNG.
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