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Henry Hub Steady After Small US Storage Build

NATGAS

US Henry Hub is net unchanged after an initial decline in reaction to a small build in US gas storage inventories in line with expectation according to the latest EIA data.

  • The EIA weekly gas inventories for the week ending Mar. 15 showed a build of 7bcf compared to the expectation for a build of 6bcf according to a Bloomberg survey and the seasonal normal draw of -59.5bcf.
  • The build helps maintain a strong end of winter season US inventory surplus. Total stocks are at 2,332bcf compared to the previous five year average of 1,650bcf.
    • US Natgas APR 24 down 0.9% at 1.68$/mmbtu
    • US Natgas SEP 24 down 1.5% at 2.44$/mmbtu
    • US Natgas MAR 25 down 1.2% at 3.18$/mmbtu


Source: EIA

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