Last week, fuel inventories in storage rose by 95 billion cubic feet (bcf), surpassing analyst forecasts. Gas futures initially dropped but rebounded by the end of the week. The market expects increased cooling demand in the coming weeks as summer temperatures rise. Gas futures on the Henry Hub are heading for their best month since August. However, the storage build exceeded last year's levels and the five-year average. Total gas in underground storage in the US is significantly higher than last year and the five-year average.
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