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Henry Hub Edges Unchanged Despite Stocks Draw Above Expectations

NATURAL GAS

US Henry Hub saw a brief increase before easing back in response to a slightly higher than expected US gas storage draw.

  • The EIA weekly gas inventories for the week ending Dec 15 showed a draw of -87bcf compared to the expectation for a draw of -82bcf but below the five-year average of -107bcf according to a Bloomberg survey.
  • The total US inventories remain well above the seasonal norm at 3,577bcf compared to the average of 3,297bcf.
    • US Natgas JAN 24 up 1.2% at 2.48$/mmbtu
    • US Natgas JUN 24 up 0.7% at 2.45$/mmbtu

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