Texas Heat Fails to Boost Natural Gas Futures Amid Storage Cushion
The Texas heatwave may be intense, but it's not enough to push natural gas futures higher. According to Natural Gas Intelligence, the rally in futures prices has fizzled due to a storage cushion that is weighing on the market.
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The storage cushion refers to the excess natural gas stored in underground facilities, which can be released into the market when demand is high. This cushion has been a major factor in limiting price increases, despite the heatwave in Texas.