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Natural Gas Rises Ahead of Fresh Storage Data Despite Mild Long-Term Forecasts

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Natural gas prices rose early on Thursday ahead of fresh storage data despite cooling long-term forecasts.

Gas for August delivery was last seen up $0.03 or 0.9%, to $2.95 per million British thermal units.

Gas has remained under $3 for five sessions as traders look to cooling long-term forecasts despite recent heat for most states. The U.S. National Weather Service expects most northern states to see seasonal or cooler temperatures over its six to 10 day outlook, cutting into cooling demand.

The Energy Information Administration will release its weekly survey of inventories of the fuel later on Thursday morning. Celsius Energy expects the agency to report stocks rose by 37 billion cubic feet last week, which would be the second-smallest build in the last five years.

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