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2014.02.2805:11:27UTC+00Natural gas positions for largest plunge in NY

Natural gas futures dived on the fifth day in New York and prepares for the greatest weekly fall in 17 years, following a government report displayed a US stockpile decrease that was smaller than predictions.

Natural gas to be delivered in April dropped 1.3% in today’s electronic trading on the New York Mercantile Exchange and was set at $4.486 per million British thermal units at 10:08 a.m. in Singapore. Volume for all futures traded was 86% below the 100-day average. Gas fell 27% this week, nearing the largest falloff since December 1996, and went down 9.2% for February.

US inventories sank 95 billion cubic feet in the week ended on February 21 to 1.348 trillion, the Energy Information Administration reported yesterday. Commodity Weather Group LLC anticipates normal or warmer weather for some parts of the Great Plains and West from March 9 to March 13.

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