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Commodities

California Supply Squeeze Sends Natural Gas Prices Soaring

Guavy AI Editorial Team
Instruments
Natural Gas
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Natural gas futures surged higher on Thursday due to tight supplies in California and a lean storage build, despite pulling back from earlier highs around midday. The South Central salt withdrawal and stronger LNG feedgas contributed to the price increase.

The September futures rose by 4.6 cents to $2.888/MMBtu around 11:45 a.m. ET, while October futures gained 5.4 cents to $2.928 as trading shifted to the new prompt month.

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