February natural gas prices trended lower during the initial morning hours and fell to a new five day low in the process. Perhaps the latest monthly data from the EIA that showed record US natural gas production in October has contributed to the downside action. The agency also raised their 2013 US natural gas production estimate by 1% to 69.84 bcf per day. Meanwhile, reports of Brazil paying more than $15.00 per btu for emergency LNG supply could be seen as a supportive demand force.
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