SAN FRANCISCO (MarketWatch) -- Losses in natural-gas futures worsened on Thursday after the U.S. Energy Information Administration reported a rise of 99 billion cubic feet in U.S. inventories for the week ended May 10. Analysts polled by Platts forecasted a climb of between 93 billion cubic feet and 97 billion cubic feet. Total stocks now stand at 1.964 trillion cubic feet, down 694 billion cubic feet from the year-ago level and 83 billion cubic feet below the five-year average, the government said. June natural gas (ngm13) was at $3.94 per million British thermal units, down 13 cents, or 3.2%. It was trading at $4.01 shortly before the data
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Right now, it looks like NG supply will catch up to the 5 yr average in about 4 weeks. If prices don't come down enough (like 3.25) then NG won't pick up enough power burn and supply will catch up to last year's number around Labor day.
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