US Natural Gas futures are trading with steady gains today, adding to recent upside after prices tanked to a one month low last week. The commodity edged up amid bargain buying and is currently quoting at $2.10 per mmbtu, up 0.62% on the day for the June series futures contract. The counter is around two week high right now. Prices will likely hold onto the break above $2 per mmbtu as traders focus on tomorrow?s weekly US gas storage data. The US Energy Information Administration or EIA stated last week that US gas inventories for the week ended April 12 rose by 50 bcf, below the 5-year average build for this time of year of 61 bcf. However, as of April 12, Natural gas inventories were up 20.9% on year and were 36.4% above their 5-year seasonal average, keeping prices under check.
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