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Pure fuel futures continued to retreat early Friday as a typically supportive outcome from the most recent authorities stock information was failing to maintain bullish momentum from the week-earlier interval.
The November Nymex contract was down 5.3 cents to $3.291/MMBtu at round 8:33 a.m. ET, conceding a piece of the hefty features posted late final week.
The U.S. Power Data Administration (EIA) on Thursday reported an 84 Bcf injection into Decrease 48 storage for the week ending Oct. 6, tighter versus each the 125 Bcf year-earlier construct and the 93 Bcf five-year common.
Whole Decrease 48 working fuel in underground storage exited the interval at 3,529 Bcf, a 163 Bcf surplus to the five-year common, in line with EIA.
Whereas the most recent EIA print was supportive, a mixture of…
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