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US Natgas Halts Decline After Large Stock Draw

NATGAS

US Natgas edges slightly higher after a bigger storage draw than expected. Front month remains down on the day on the back of warmer weather forecasts.

  • US Natgas FEB 23 down -2.7% at 4.56$/mmbtu
  • The latest EIA weekly gas inventories for the week ending Dec 23 showed a -213bcf decline compared to expectation of a -195bcf draw and the 5-year average for this time of year of -105bcf.
  • Total US inventories are just below the five year average at 3,112bcf.

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