The June 15 natural gas contract gained over 5% in just one minute of trade following release of the EIA weekly storage report at 09:30 AM on Thursday, April 30th.
The EIA storage report showed a strong build of 81 Bcf (billion cubic feet), but this number came slightly below the pre-report consensus.
The primary question now becomes “Has the natural gas market set a post-winter seasonal low or is yesterday’s strength merely another short-covering rally?”
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