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US natgas futures turn positive after storage data
NEW YORK, July 6 |
NEW YORK, July 6 (Reuters) - Front-month U.S. natural gas futures turned positive on Friday after a government report showed the weekly inventory build was smaller than expected.
The U.S. Energy Information Administration report showed total domestic gas inventories rose last week by 39 billion cubic feet, less than the 44 bcf forecast by analysts.
Front-month August futures on the New York Mercantile Exchange rose above $3 per million British thermal units, before retreating to $2.957, up 1.2 cents or less than half a percent. They were down about 4 cents at $2.906 before the data.
Prices rose above $3 overnight, the first time since early January. (Reporting By Edward McAllister; Editing by Marguerita Choy)
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