December Natural Gas futures had a strong session, recouping losses from the previous two days and potentially closing at the highest level since October 21st. The EIA inventory report showed working natural gas in storage increased by 74 billion cubic feet for the week ended October 24th, bringing total storage to 3,882 billion cubic feet. This puts inventories 171 billion cubic feet above the five-year average of 3,711 billion cubic feet, indicating a well-supplied market that could weigh on prices near-term. However, early cold forecasts may temper this bearish pressure. Domestic demand is expected to be moderate through the weekend before shifting to light early next week due to weather systems bringing rain and cooler temperatures to the northern and eastern U.S.
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