Natural Gas futures bounced off session lows despite a weekly EIA storage build of 16 billion cubic feet, which came in slightly higher than market expectations of 14 billion cubic feet. The build brought total inventories to 3,169 billion cubic feet, narrowing the surplus to 185 billion cubic feet and leaving supplies 28 billion cubic feet below last year's levels. Meanwhile, late-summer weather forecasts indicate extreme heat across the Southern U.S., with temperatures expected to reach up to 110 degrees and drive strong cooling demand. Bob Iaccino analyzes the latest storage data and market drivers for Natural Gas futures.
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