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NATGAS: Henry Hub Holds Gains After Small Drop in Gas Storage

NATGAS
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 Henry Hub front month is holding onto strong earlier gains, driven by increase domestic and overseas demand, after a small weekly withdrawal from US natural gas storage, according to the latest weekly EIA data.

  • The EIA weekly gas inventories for the week ending Nov. 15 showed a withdrawal of 3bcf compared to the expectation for an injection of 2bcf according to a Bloomberg survey and 6bcf build in a Reuters survey. The previous five year average suggested a switch to withdrawals of around 16bcf.
  • Total stocks are at 3,969bcf compared to the previous five year average of 3,730bcf and 141bcf above levels seen a year ago.
    • US Natgas DEC 24 up 7.4% at 3.43$/mmbtu
    • US Natgas JAN 25 up 5.2% at 3.57$/mmbtu
    • US Natgas NOV 25 up 1.8% at 3.68$/mmbtu

 

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 Henry Hub front month is holding onto strong earlier gains, driven by increase domestic and overseas demand, after a small weekly withdrawal from US natural gas storage, according to the latest weekly EIA data.

  • The EIA weekly gas inventories for the week ending Nov. 15 showed a withdrawal of 3bcf compared to the expectation for an injection of 2bcf according to a Bloomberg survey and 6bcf build in a Reuters survey. The previous five year average suggested a switch to withdrawals of around 16bcf.
  • Total stocks are at 3,969bcf compared to the previous five year average of 3,730bcf and 141bcf above levels seen a year ago.
    • US Natgas DEC 24 up 7.4% at 3.43$/mmbtu
    • US Natgas JAN 25 up 5.2% at 3.57$/mmbtu
    • US Natgas NOV 25 up 1.8% at 3.68$/mmbtu

 

Keep reading...Show less