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Natural gas edged up on forecasts for colder than previously expected weather.

Natural gas prices increased by 0.71%, settling at 240.4, driven by forecasts of colder weather, heightening heating demand for the next two weeks. Despite expectations for gas withdrawals from storage starting in mid-November, U.S. gas stockpiles were already 6% above normal by November 10 and projected to reach 7% above normal by November 17.

The Energy Information Administration attributes this surplus to robust natural gas production and milder winter weather, reducing the need for heating. 

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