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US Nat Gas Prices Slump in Energy Sell Off

NATURAL GAS

US natural gas is caught up in the Friday energy sell off, reversing much of the rally from earlier in the week. Updated forecasts suggest an upcoming stretch of Arctic chills in the Lower 48 will fade in the final days of 2022.

  • The increased temperature outlook is focussed on the US West Coast, where they were expected to fall below normal in early week forecasts.
  • The EIA also reported a lighter-than-average 50 Bcf withdrawal from U.S. storage during the week ended December 9, that initially sparked a rally beating expectations of a 45 Bcf draw before reversing.
  • US Natgas JAN 23 down -7.2% at 6.47$/mmbtu

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