Ole HansenOle Hansen , Head of Commodity Strategy, Saxo Bank
Denmark, 17 August 2012 at 06:27 GMT+0
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Natural gas: yesterdays storage injection data came in lower than expected but failed to ignite a gas market which is now more focussed on the nearterm weather outlooks which points towards less needs for power generation. The smaller than expected injection of 20 bcf has brought the current surplus above the five year average down to just 12.5 percent. This further removes one of those fears that existed earlier this year when the potential for exhausted capacity became a risk and drove the price below USD 2 mmbtu at one stage. Support currently at 2.70 (July low) is so far holding up.

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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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