MNI China Daily Summary: Monday, November 11

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NATGAS: Henry Hub Holds Losses After EIA Storage Injection Data

NATGAS
USCommoditiesEnergy BulletsBulletGlobalRegionNorth America

Henry Hub front month is relatively unchanged and holding onto earlier losses after a slightly larger than expected weekly injection into US natural gas storage, according to the latest weekly EIA data.

  • The EIA weekly gas inventories for the week ending Nov.1 showed an injection of 69bcf compared to the expectation for an injection of 67bcf according to a Bloomberg survey and the seasonal normal injection of about 49bcf.
  • Total stocks are at 3,932bcf compared to the previous five year average of 3,717bcf and 215bcf above levels seen a year ago.
    • US Natgas DEC 24 down 2.3% at 2.68$/mmbtu
    • US Natgas MAY 25 down 1.9% at 2.69$/mmbtu
    • US Natgas NOV 25 down 1.5% at 3.4$/mmbtu

 

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Henry Hub front month is relatively unchanged and holding onto earlier losses after a slightly larger than expected weekly injection into US natural gas storage, according to the latest weekly EIA data.

  • The EIA weekly gas inventories for the week ending Nov.1 showed an injection of 69bcf compared to the expectation for an injection of 67bcf according to a Bloomberg survey and the seasonal normal injection of about 49bcf.
  • Total stocks are at 3,932bcf compared to the previous five year average of 3,717bcf and 215bcf above levels seen a year ago.
    • US Natgas DEC 24 down 2.3% at 2.68$/mmbtu
    • US Natgas MAY 25 down 1.9% at 2.69$/mmbtu
    • US Natgas NOV 25 down 1.5% at 3.4$/mmbtu

 

Keep reading...Show less