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US Extends Gain on Expectation of Stock Draw and Colder Weather

NATGAS

US Natgas extends gains on colder weather forecasts and expectation of a large draw in US inventories later today.

    • US Natgas DEC 22 up 9.5% at 7.42$/mmbtu
  • The latest US natural gas inventories for the week ending Nov 18 will be released at 17:00 GMT (12:00 ET). The expectation is for a draw of -89bcf after a recent demand boost due to below normal temperatures. Last week saw a build of +64bcf and the 5-year average for this time of year is -43bcf.
  • After above normal temperatures in the coming week colder weather is expected in the west from next week onwards and at the end of the two week forecast period in the east.

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