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Henry Hub Supported by Larger than Expected Storage Draw

NATGAS

US Henry Hub extends earlier gains after a draw in storage inventories in line with seasonal normal levels but slightly larger than expected.

  • The EIA weekly gas inventories for the week ending Dec 22 showed a draw of -87bcf compared to the expectation for a draw of -78bcf according to a Bloomberg survey and the seasonal normal draw of -87bcf.
  • The total US inventories remain well above season normal levels at 3,490bcf compared to the average of 3,205bcf.
    • US Natgas FEB 24 up 4.6% at 2.55$/mmbtu
    • US Natgas JUL 24 up 2.1% at 2.67$/mmbtu
    • US Natgas JAN 25 up 1.3% at 3.78$/mmbtu


Source: EIA

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