Natural Gas Slips on Outlook for Above-Normal Supply Gain
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Natural gas futures dropped in New York on speculation that a government report will show a triple-digit gain in U.S. inventories, narrowing a deficit before the start of cold-weather demand.
The Energy Information Administration report, due at 10:30 a.m. tomorrow in Washington, may show that stockpiles climbed by 107 billion cubic feet in the seven days ended Sept. 26, compared with the five-year average increase of 85 billion for the week, according to the median of 16 analyst estimates compiled by Bloomberg. Supplies the previous week were 13 percent below average.