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US Front Month Lowest Since March Ahead of EIA Data

NATGAS

US Natgas extends losses with expectation for another above normal build in US inventories in data due later today.

    • US Natgas NOV 22 down -3.6% at 5.26$/mmbtu
  • The front month contract has fallen to the lowest since March as high production and reduced LNG exports has allowed the restocking of the low storage levels. Total US inventories were last week reported at 3,231bcf and just 5.4% below the five-year average level compared to 12% below in mid August.
  • The expectation for today is for a build of 105bcf due to high production, curtailed LNG exports and near normal demand. Last week saw a build of +125bcf and the 5-year average for this time of year is +73bcf.
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