November 10, 2022 15:02 GMT
US Natgas Pulls Back From High of the Day Before EIA Data
US Natgas pulls back slightly from earlier gains ahead of the EIA inventory report at 15:30GMT (10:30ET).
- The expectation is for a build of +83bcf compared to +107bcf last week and the 5-year average for this time of year of +28bcf. Last week total US stocks had increased to 3.4% below the five year average having been as much as 12% below in mid August. Below normal demand, reduced LNG exports and strong production have contribute to recent weekly stock builds.
- Uncertainty over the expected restart of Freeport and the arrival of cold weather is driving market volatility.
- US Natgas DEC 22 up 1.8% at 5.97$/mmbtu