Disbelief

Many market experts remained in disbelief Thursday over the American Gas Association’s (AGA) report of a 3 Bcf net injection into the nation’s storage facilities last week. An injection that small in August is unprecedented and had a stunning impact on prices, pushing near-month futures up 37 cents on Wednesday with a similar increase in cash Thursday morning. However, many marketers said they were attempting to ignore the data as an anomaly or an outright mistake by AGA or the storage companies it surveys.