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Henry Hub Rebounds on Larger Than Expected Stock Draw

NATURAL GAS

US Henry Hub front month has recouped earlier losses to trade at the highest since 9 February after a larger than expected draw in US natural gas inventories according to the latest weekly EIA data.

  • US Natgas APR 24 up 1.5% at 1.91$/mmbtu
  • US Natgas SEP 24 up 0.1% at 2.6$/mmbtu
  • The EIA weekly gas inventories for the week ending Feb 23 showed a draw of -96 compared to the expectation for a draw of -83bcf according to a Bloomberg survey and the seasonal normal draw of -173bcf.
  • Total stocks are at 2,374bcf compared to the previous five year average of 1,876cf.

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