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US Gas Down after EIA Stock Data

NATGAS

US Natgas trading down 0.5% to 8.44$/mmbtu after EIA gas inventory data came in higher than expected yesterday.

  • EIA data showed a rise of 90bcf in US gas stocks compared to estimate of 86bcf and 80bcf recorded the previous week. The reported build did lag behind the 5-year average for the time of year of 103bcf.
  • US lower 48 production yesterday was relatively unchanged at 96.57bcf/d with demand slightly lower at 63.79bcf/d. Net flows to LNG export terminals were unchanged at 12.8bcf/d.

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