Ole HansenOle Hansen , Head of Commodity Strategy, Saxo Bank
Denmark, 23 July 2012 at 11:54 GMT+0
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NatGas: injections into underground storage facilities across the US continues to slow compared with the same time during previous years. The sweltering heat wave across the country have increase demand at a time it was most needed in order to avoid further price weakness this autumn. The amount of NG in underground storage have recently dropped to being only 20 percent above the five-year average compared with 60 percent back in March (see attachment). The price may have some further upside nearterm but keep in mind that the month of August over the previous three years have shown negative returns of between 2.2 and 22.5 percent.

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Saxo Bank provides an execution-only service. The material on this website does not contain (and should not be construed as containing) investment advice or an investment recommendation, or a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Saxo Bank accepts no responsibility for any use that may be made of these comments and for any consequences that result.

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