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NATGAS: Henry Hub Extends Losses After 116 Bcf Stock Draw Last Week

NATGAS
USEnergy BulletsNorth AmericaBulletPower BulletsCommodities

Henry Hub is sharply extending its earlier losses following EIA data showing a slightly below expectation stock withdrawal. Front month is at its lowest since Dec. 18 despite the draw coming in above the five-year average.

  • US Natgas FEB 25 down 7% at 3.41$/mmbtu
  • US Natgas MAR 25 down 4.7% at 2.99$/mmbtu
  • The EIA weekly gas inventories for the week ending Dec. 27 showed a withdrawal of 116 bcf.
  • Bloomberg predicted a draw of 126 bcf. The WSJ predicted a draw of 131 bcf while Reuters foresaw a smaller withdrawal of 124 bcf.
  • The seasonal five-year average shows a net withdrawal of around 104 bcf.
  • Total stocks are at 3,413 bcf compared to the previous five-year average of 3,259 bcf and 67 bcf below levels seen a year ago.
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Henry Hub is sharply extending its earlier losses following EIA data showing a slightly below expectation stock withdrawal. Front month is at its lowest since Dec. 18 despite the draw coming in above the five-year average.

  • US Natgas FEB 25 down 7% at 3.41$/mmbtu
  • US Natgas MAR 25 down 4.7% at 2.99$/mmbtu
  • The EIA weekly gas inventories for the week ending Dec. 27 showed a withdrawal of 116 bcf.
  • Bloomberg predicted a draw of 126 bcf. The WSJ predicted a draw of 131 bcf while Reuters foresaw a smaller withdrawal of 124 bcf.
  • The seasonal five-year average shows a net withdrawal of around 104 bcf.
  • Total stocks are at 3,413 bcf compared to the previous five-year average of 3,259 bcf and 67 bcf below levels seen a year ago.