NATGAS
US Henry Hub is still down on the day after reversing an initial rally following a smaller than expected injection into US natural gas storage according to the latest weekly EIA data. Henry Hub has eased lower today after the strong rally this month with ongoing curtailed LNG exports set against production concerns.
- The EIA weekly gas inventories for the week ending May 17 showed an injection of 78bcf compared to the expectation for an injection of 85bcf according to a Bloomberg survey and the seasonal normal injection of 90bcf.
- US storage inventories continue to hold a strong surplus with total stocks at 2,711bcf compared to the previous five year average of 2,105bcf.
- US Natgas JUN 24 down 2.2% at 2.78$/mmbtu
- US Natgas NOV 24 down 0.6% at 3.34$/mmbtu
- US Natgas MAY 25 down 0.2% at 3.19$/mmbtu
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