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US Henry Hub Trades Lower Ahead of Expected EIA Stock Build

NATGAS

US Natgas edging lower after a fall yesterday ahead of the updated weekly EIA storage data later.

    • US Natgas MAY 23 down -1.2% at 2.2$/mmbtu
  • The latest EIA weekly gas inventories for the week ending 14 Apr will be released this afternoon at 15:30GMT. The expectation is for a build of +70bcf following on from the first build of the year last week of +25bcf. The 5-year average for this time of year is a build of +49bcf. Total US inventories were last week near the top of the five year range at 1,855bcf compared to the average of 1,539bcf.
  • The US weather forecast is still showing a mixed picture with below normal temperatures in central and eastern areas but warm still in the west. Domestic demand is today near normal levels at 66.3bcf/d.
  • Natural gas production remained unchanged at 100.4bcf/d yesterday compared to around 97bcf/d seen this time last year.
  • Flows to LNG export terminals are today estimated slightly lower at 14.22bcf/d according to Bloomberg. The supplies reached a high of 14.89bcf/d on 17 April.
  • Export flows to Mexico are today estimated at 5.6bcf/d.

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