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Henry Hub Rises on Unexpected Storage Draw


US Henry Hub is trading higher after an unexpected draw in US natural gas storage inventories.

  • The EIA weekly gas inventories for the week ending 17 November showed a draw of -7bcf compared to Bloomberg survey expectations of a build +2.2bcf. The draw is still below the five-year average for this time this year of a draw of -53bcf.
  • The total US inventories remain above normal at the historical end of injection season at 3.825bcf as of 17 November above the five-year average of 3,577bcf.
    • US Natgas DEC 23 up 1.7% at 2.9$/mmbtu
    • US Natgas MAY 24 up 0.4% at 2.8$/mmbtu

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