Natural gas prices have been depressed by elevated inventory levels for years, but storage levels are starting to decline. For the week ended June 7, inventories were 2.4% below the five-year average and 20% lower year-over-year. The EIA will provide its weekly report on natural gas storage Thursday.
Natural gas futures were 1.5% higher Wednesday, trading around $3.96 per million British thermal units. Gas prices have gained 19% so far this year.
United States Natural Gas Fund
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Max Chen contributed to this article.