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US Natgas Extends Decline After Smaller Than Expected Stock Draw

NATGAS

US Natgas extends the decline as the US inventories show a smaller draw than expected. Front month continues to fall due to warm weather with production and LNG exports holding steady.

  • US Natgas FEB 23 down -10.4% at 3.74$/mmbtu
  • The latest EIA weekly gas inventories for the week ending Dec 30 showed a -221bcf decline compared to expectation of a -231bcf draw and the 5-year average for this time of year of -107bcf.
  • Total US inventories are just below the five year average at 2,891bcf.


Source: EIA

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