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Nat-Gas Prices Climb on Warmer Weather Forecasts

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Natural Gas
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Natural gas prices rose by 0.22% on Wednesday to close at +$0.006, driven by forecasts of warmer US weather that may boost demand from electricity providers.

The Commodity Weather Group predicted above-average temperatures across the Western US through August 14, which could increase air conditioning use and subsequently nat-gas consumption.

However, price gains were limited by expectations of a larger-than-normal build in weekly storage, with the consensus forecasting an increase of +30 bcf for Thursday's EIA report.

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