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US Natgas Plunges on Below-Normal Stock Withdrawals

NATURAL GAS

US Henry Hub has fallen shortly through recent lows of $1.59/mmbtu after latest US natural gas inventory data showed a smaller than expected draw.

    • US Natgas MAR 24 down -0.2% at 1.61$/mmbtu
    • US Natgas AUG 24 down -0.4% at 2.23$/mmbtu
    • US Natgas FEB 25 down -0.9% at 3.4$/mmbtu
  • The EIA weekly gas inventories for the week ending Feb 9 showed a draw of -49bcf compared to the expectation for a draw of -57bcf according to a BNEF survey and the seasonal normal draw of -131bcf.
  • Total stocks are at 2,535bcf compared to the five-year average of 2,187bcf.

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