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Henry Hub Falls on Smaller than Expected Storage Draw

NATGAS

US Henry Hub is slightly weaker after a smaller than expected draw in US gas storage inventories according to the latest weekly EIA data.

  • The EIA weekly gas inventories for the week ending Mar. 29 showed a draw of 37bcf compared to the expectation for a draw of 43bcf according to a Bloomberg survey and the seasonal normal draw of 14.5bcf.
  • Despite the above normal draw, US storage inventories continue to hold a strong surplus with total stocks at 2,259bcf compared to the previous five year average of 1,618bcf.
    • US Natgas MAY 24 down 1.5% at 1.81$/mmbtu
    • US Natgas OCT 24 down 1.6% at 2.53$/mmbtu
    • US Natgas APR 25 down 0.7% at 2.98$/mmbtu

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US Henry Hub is slightly weaker after a smaller than expected draw in US gas storage inventories according to the latest weekly EIA data.

  • The EIA weekly gas inventories for the week ending Mar. 29 showed a draw of 37bcf compared to the expectation for a draw of 43bcf according to a Bloomberg survey and the seasonal normal draw of 14.5bcf.
  • Despite the above normal draw, US storage inventories continue to hold a strong surplus with total stocks at 2,259bcf compared to the previous five year average of 1,618bcf.
    • US Natgas MAY 24 down 1.5% at 1.81$/mmbtu
    • US Natgas OCT 24 down 1.6% at 2.53$/mmbtu
    • US Natgas APR 25 down 0.7% at 2.98$/mmbtu

Keep reading...Show less