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Henry Hub Rises on Below Expectation Storage Build

NATURAL GAS

US Henry Hub front month is extending earlier gains to the highest since 19 October after a smaller than expected build in US natural gas storage inventories.

  • US Natgas NOV 23 up 1.2% at 3.05$/mmbtu
  • US Natgas APR 24 up 0.5% at 3.11$/mmbtu
  • US Natgas OCT 24 up 0.2% at 3.44$/mmbtu
  • The latest EIA weekly gas inventories for the week ending 13 October showed a build of +74bc, compared to a Bloomberg survey expecting +80.27bcf and the five-year average for time of year of +66bcf.
  • The total US inventories remain above normal at 3,700bcf as of 20 October, compared with the five-year normal at 3,517bcf.

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