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US Natgas Extends Decline After EIA Stock Build Yesterday

NATGAS

US Natgas falls after a big build in EIA stock data yesterday as deliveries to Sabine Pass recover after a feedpipe outage limited supplies over the last week.

    • US Natgas NOV 22 down -3% at 6.76$/mmbtu
  • Total deliveries to US export terminals are still lower than normal at 11.1bcf/d due to the outage at Freeport and maintenance at Cove Point.
  • EIA inventory data showed an above expected 129bcf build in US stocks compared to a 5-year average build of a +83bcf at this time of year. Total US inventories of 3,106bcf are now just 6.5% below the five-year average level.
  • Weather forecast have turned slightly warmer for much of the country, but below normal temperatures are still expected in the East throughout the next two week forecast. US domestic demand was normal at 64.5bcf/d yesterday.
  • US lower 48 dry gas production is holding steady just below the record levels with today estimated at 101.2bcf/d.
Energy BulletsCommoditiesUS
Energy BulletsCommoditiesUS

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