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FINWIRES

Natural Gas Rises Early Despite Cool Long-Term Forecasts

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Natural gas traded higher early Monday in thin holiday trade, with the U.S. markets closed, even as long-term forecasts cool.

Gas for June delivery was last seen up $0.04 to US$2.95 per million British thermal units in electronic trade, with markets closed for the Memorial Day holiday.

Long-term forecasts from the National Weather Service expect most southern and eastern states to be cooler than seasonal over its six to 10 day outlook, lowering cooling demand.

Inventories of the fuel remain robust, with the Energy Information Administration last week reporting stocks stood at 2.39-trillion cubic feet, 6.5% above the five-year average.

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