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US NATGAS: Henry Hub Edges Back Up After Large EIA Storage Draw

US NATGAS
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Henry Hub has recovered some of the earlier losses on the day after a larger than expected withdrawal from US natural gas storage, according to the latest weekly EIA data.

  • The EIA weekly gas inventories for the week ending Jan. 24 showed a withdrawal of 321bcf.
  • A Bloomberg survey average expected a draw of 315bcf, a Reuters survey a 314bcf draw and WSJ a 317bcf draw.
  • The seasonal five-year average shows a net withdrawal of around 189bcf.
  • Total stocks are down to 2,571bcf and 144bcf below levels seen a year ago and 111bcf below the previous five year average of 2,682bcf.
  • US Natgas MAR 25 down 0.5% at 3.15$/mmbtu
  • US Natgas APR 25 down 0.5% at 3.18$/mmbtu
  • US Natgas FEB 26 down 1% at 4.34$/mmbtu

 

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Henry Hub has recovered some of the earlier losses on the day after a larger than expected withdrawal from US natural gas storage, according to the latest weekly EIA data.

  • The EIA weekly gas inventories for the week ending Jan. 24 showed a withdrawal of 321bcf.
  • A Bloomberg survey average expected a draw of 315bcf, a Reuters survey a 314bcf draw and WSJ a 317bcf draw.
  • The seasonal five-year average shows a net withdrawal of around 189bcf.
  • Total stocks are down to 2,571bcf and 144bcf below levels seen a year ago and 111bcf below the previous five year average of 2,682bcf.
  • US Natgas MAR 25 down 0.5% at 3.15$/mmbtu
  • US Natgas APR 25 down 0.5% at 3.18$/mmbtu
  • US Natgas FEB 26 down 1% at 4.34$/mmbtu

 

Keep reading...Show less