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US Gas Largely Moves Sideways


US Henry Hub has traded largely flat Thursday due to the Thanksgiving holiday limiting volumes.

  • US Natgas DEC 23 up 0.6% at 2.91$/mmbtu
  • It follows an unexpected draw in US gas stocks in the EIA report, providing some support despite signs of general oversupply.
  • The EIA weekly gas inventories for the week ending 17 November showed a draw of -7bcf compared to expectations of a build +2bcf and five-year average for this time this year of -53bcf. The total US inventories remain above normal at the start of the withdrawal season at 3,825bcf compared to the five-year average of 3,577bcf.
  • Feedgas flows to US LNG export terminals are today unchanged 14.8bcf/d according to Bloomberg.
  • Export flows to Mexico are today at 5.9bcf/d according to Bloomberg.

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