The NYMEX natural gas futures strip posted a small loss on Wednesday. The June 2017 contract opened at $3.234/dth and traded between $3.252 and $3.176. It settled at $3.209, down a penny. Market analysts expect an injection of approximately 65-75 Bcf into US natural gas storage inventory for the week ended 5/19/17. A build at this level would be in line with last year's injection of 71 Bcf for the same time period but smaller than the 5 year average of 90 Bcf. The EIA will release the storage report today at 10:30 AM. The July crude oil contract ended the day at $51.36/barrel, down 11 cents. A mix of colder than normal and seasonal-like temperatures are forecast for the eastern half of the country during the 10 day range. Above normal temperatures are forecast for the western half of the country during the 6-10 day outlook.
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