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US Natgas Loses Earlier Gains After Small Stock Draw


{us}{5i} US Natgas price pulls back slightly from earlier gains after a smaller draw than expected in the latest US inventory data. Earlier gains had been driven by colder weather forecasts in the eastern US and a small dip in US production.

  • US Natgas JAN 23 up 2.3% at 5.86$/mmbtu
  • The latest EIA weekly gas inventories for the week ending Dec 2 showed a -21bcf decline compared to expectation of a -30bcf draw and the 5-year average for this time of year of -28bcf.
  • Total US inventories have dipped back below the five year average in recent weeks at 3,462bcf.

Source: EIA

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