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Henry Hub Stable After EIA Data

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Henry Hub Front Month is largely unchanged after EIA data showed a higher-than-expected but below average US natural gas storage build.

  • EIA data for the week to May 17 showed an injection of 84bcf compared to expectations of +74-78 bcf from Bloomberg, the WSJ and Platts. the seasonal normal of +104bcf.
  • US storage inventories continue to hold a strong surplus with total stocks at 2,795bcf. The five-year average is 2,209 bcf.
  • Bloomberg expected a build of 74 Bcf in US natural gas storage for the week to May 24, slightly below the WSJ survey’s forecast of a 77 Bcf build and Platts forecast of a 78 Bcf build.
  • US Natgas JUL 24 down 2.3% at 2.61$/mmbtu
  • US Natgas DEC 24 down 1% at 3.52$/mmbtu
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Henry Hub Front Month is largely unchanged after EIA data showed a higher-than-expected but below average US natural gas storage build.

  • EIA data for the week to May 17 showed an injection of 84bcf compared to expectations of +74-78 bcf from Bloomberg, the WSJ and Platts. the seasonal normal of +104bcf.
  • US storage inventories continue to hold a strong surplus with total stocks at 2,795bcf. The five-year average is 2,209 bcf.
  • Bloomberg expected a build of 74 Bcf in US natural gas storage for the week to May 24, slightly below the WSJ survey’s forecast of a 77 Bcf build and Platts forecast of a 78 Bcf build.
  • US Natgas JUL 24 down 2.3% at 2.61$/mmbtu
  • US Natgas DEC 24 down 1% at 3.52$/mmbtu