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US NATGAS: Henry Hub Rises After Stock Draw

US NATGAS

Henry Hub has erased most of its earlier gains but remains trading lower after an slightly above expectation US stock draw, albeit in-line with the five-year average.

  • US Natgas MAR 25 down 0.8% at 3.33$/mmbtu
  • US Natgas APR 25 down 0.6% at 3.34$/mmbtu
  • The EIA weekly gas inventories for the week ending Jan. 31 showed a withdrawal of 174bcf, on par with the seasonal five-year average.
  • Total stocks are down to 2,397 bcf and 208bcf below levels seen a year ago and 111bcf below the previous five-year average of 2,508bcf.
  • A Bloomberg survey average suggested a draw of 170bcf on the week while a Reuters survey showed a 168bcf draw and WSJ a 170bcf draw. 
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Henry Hub has erased most of its earlier gains but remains trading lower after an slightly above expectation US stock draw, albeit in-line with the five-year average.

  • US Natgas MAR 25 down 0.8% at 3.33$/mmbtu
  • US Natgas APR 25 down 0.6% at 3.34$/mmbtu
  • The EIA weekly gas inventories for the week ending Jan. 31 showed a withdrawal of 174bcf, on par with the seasonal five-year average.
  • Total stocks are down to 2,397 bcf and 208bcf below levels seen a year ago and 111bcf below the previous five-year average of 2,508bcf.
  • A Bloomberg survey average suggested a draw of 170bcf on the week while a Reuters survey showed a 168bcf draw and WSJ a 170bcf draw.