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Henry Hub Holds Gains Following EIA Data

NATGAS

Henry Hub front month is plunged and immediately rebounded to its previous levels following the EIA data showing a below-average inventory build broadly in line with expectations.

  • The EIA weekly gas inventories for the week ending June 28 showed an injection of 32bcf compared to the expectation for an injection of 30bcf according to a Bloomberg survey and the seasonal normal injection of 69bcf.
  • Despite the below normal increase in recent weeks, the US storage inventories continue to hold above the previous five-year range, with total stocks at 3,134bcf compared to the previous five-year average of 2,638bcf.
  • US Natgas AUG 24 up 0.5% at 2.45$/mmbtu
  • US Natgas JAN 25 up 0.3% at 3.75$/mmbtu

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