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US Edges Higher Before EIA Stocks Data

NATGAS

US Natgas edges higher before the updated EIA inventory data later today.

    • US Natgas NOV 22 up 1.6% at 6.54$/mmbtu
  • The expectation is for another strong build of +126bcf with production still high. Last week saw a build of +129bcf and the 5-year average for this time of year is +94bcf. Total inventories were last week at 3,106bcf and 6.5% below the five-year average level.
  • US domestic demand is today estimated at 68.19bcf/d with cold weather in the East keeping demand above normal levels as the winter heating season approaches.
  • US production is maintaining just below record levels set earlier this month with yesterday up at 101.45bcf/d.
  • Deliveries to US LNG export terminals have been changing in recent days on variable supply to Sabine Pass but today total flows are expected at 11.03bcf/d. Gas exports to Mexico are today estimated largely unchanged at 6.4bcf/d with supply above the five-year average of around 5.5bcf/d.
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