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Henry Hub Rallies After 71bcf Gas Storage Build

NATGAS

US Henry Hub rallies back towards flat on the day after a slightly larger than expected injection into US natural gas storage last week according to the latest weekly EIA data.

  • The EIA weekly gas inventories for the week ending June 14 showed an injection of 71bcf compared to the expectation for an injection of 70bcf according to a Bloomberg survey and the seasonal normal injection of 84bcf.
  • US storage inventories continue to hold a strong surplus above the previous five year range, with total stocks at 3,045bcf compared to the previous five year average of 2,484bcf.
    • US Natgas JUL 24 up 0.1% at 2.75$/mmbtu
    • US Natgas DEC 24 unchanged at 3.77$/mmbtu
    • US Natgas JUN 25 down 0.5% at 3.32$/mmbtu


Source: EIA

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