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US gas bull run continues

NATGAS

US Natgas bull run continues with Jun22 trading up 1.95% to 8.46$/mmbtu today.

  • Gas has been in a steady trend higher for the last week having dipped down to 6.515$/mmbtu on 10th May.
  • The next technical resistance level is at the 5th May close high of 8.783$/mmbtu.
  • The trend is driven by high domestic and export demand, combined with below average stock levels. The latest EIA weekly inventory data is due for release tomorrow afternoon but is not expected to significantly change the trend.

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