Free Trial

US Natgas Extends Gains After Larger than Expected Stock Draw

NATGAS

US Natgas has extended earlier gains after a larger than expected stock draw. The draw was larger than normal due to cooler than normal weather at the end of January and the first couple of days of February.

  • US Natgas MAR 23 up 2.8% at 2.46$/mmbtu
  • The latest EIA weekly gas inventories for the week ending 3 Feb showed a -217bcf draw compared to expectation of a -199bcf draw and the 5-year average for this time of year of -181bcf.
  • Total US inventories are still above the five year average at 2,366bcf.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.