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US Natgas Falls with Above Normal EIA Stock Build Expected

NATGAS

US Natgas falls ahead of the EIA inventory data and on strong production, as BP confirm the return of offshore personnel and restart of production at the Na Kika and Thunder Horse platforms. The platforms in the Gulf of Mexico were shut on Sep 26 ahead of the arrival or Hurricane Ian.

  • The expectation for EIA inventories due shortly is for another strong build of 95bcf on the back of high production and a dip in demand. The 5-year average for this time of year is +70bcf and last week saw a build of 103bcf.
    • US Natgas NOV 22 down -2.7% at 6.77$/mmbtu
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US Natgas falls ahead of the EIA inventory data and on strong production, as BP confirm the return of offshore personnel and restart of production at the Na Kika and Thunder Horse platforms. The platforms in the Gulf of Mexico were shut on Sep 26 ahead of the arrival or Hurricane Ian.

  • The expectation for EIA inventories due shortly is for another strong build of 95bcf on the back of high production and a dip in demand. The 5-year average for this time of year is +70bcf and last week saw a build of 103bcf.
    • US Natgas NOV 22 down -2.7% at 6.77$/mmbtu