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NATGAS: Henry Hub Edges Lower After Expected Storage Injection

NATGAS
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Henry Hub front month has edged back slightly from previous gains after a weekly injection into US natural gas storage roughly in line with expectation but once again below the previous five year normal, according to the latest weekly EIA data.

  • The EIA weekly gas inventories for the week ending Sept. 27 showed an injection of 55bcf compared to the expectation for an injection of 58bcf according to a Bloomberg survey and the seasonal normal injection of about 94bcf.
  • US working gas storage inventories however still hold a surplus of 190bcf above the five year average, with total stocks at 3,547bcf compared to the previous five year average of 3,357bcf.
    • US Natgas NOV 24 up 2.2% at 2.95$/mmbtu
    • US Natgas DEC 24 up 1.7% at 3.35$/mmbtu
    • US Natgas OCT 25 up 0.9% at 3.43$/mmbtu

 

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Henry Hub front month has edged back slightly from previous gains after a weekly injection into US natural gas storage roughly in line with expectation but once again below the previous five year normal, according to the latest weekly EIA data.

  • The EIA weekly gas inventories for the week ending Sept. 27 showed an injection of 55bcf compared to the expectation for an injection of 58bcf according to a Bloomberg survey and the seasonal normal injection of about 94bcf.
  • US working gas storage inventories however still hold a surplus of 190bcf above the five year average, with total stocks at 3,547bcf compared to the previous five year average of 3,357bcf.
    • US Natgas NOV 24 up 2.2% at 2.95$/mmbtu
    • US Natgas DEC 24 up 1.7% at 3.35$/mmbtu
    • US Natgas OCT 25 up 0.9% at 3.43$/mmbtu

 

Keep reading...Show less