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NATGAS: Henry Hub Holding Losses

NATGAS

Henry Hub is remaining at its intraday lows after a slightly above-expectation, albeit below-average, build in US natural gas storage levels. This will add to the bearish sentiment visible earlier in the session.

  • US Natgas SEP 24 down 5.4% at 2.06$/mmbtu
  • US Natgas FEB 25 down 2.2% at 3.28$/mmbtu
  • The EIA weekly gas inventories for the week ending Aug. 16 showed a draw of 35 bcf compared to the expectation for an injection of 26 bcf according to a Bloomberg survey and the seasonal normal injection of about 41 bcf.
  • US storage inventories however still hold a robust surplus of 369 bcf.
  • Total stocks are now at 3,299 bcf compared to the previous five-year average of 2,930 bcf.
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