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US Natgas Eases Back on Small Stock Draw

NATGAS

US Natgas pulls back very slightly from earlier gains after a smaller than normal stock draw due to moderate demand and with ongoing strong production.

  • US Natgas MAR 23 up 4.9% at 2.28$/mmbtu
  • The latest EIA weekly gas inventories for the week ending 17 Feb showed a -71bcf draw compared to expectation of a -64bcf draw and the 5-year average for this time of year of -164bcf.
  • Total US inventories are above the five year average at 2,195bcf.

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