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Natural Gas Rises Despite Cool Long-Term Forecasts

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Natural gas traded higher early on Wednesday rising after three days of losses even as long-term forecasts expect mild weather on the way for most states, easing cooling demand.

Gas for July delivery was last seen up US$0.09 to US$3.23 per million British thermal units.

The rise comes even as long-term forecasts from the National Weather Service expect most states to see seasonal or cooler temperatures over the next six to 14 days, easing the call on power for air conditioning.

Supply remains robust, with the Energy Information Administration last week reporting stocks of the fuel stocks of the fuel ended the prior week at 2.58-trillion cubic feet, 5.7% above the five-year average.

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