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US Natgas Reverses Decline Before EIA Data

NATGAS

US Natgas reverses earlier decline back to near flat on the day and holding onto the gains from the low of below 2$/mmbtu on 22 Feb. The market is supported by cooler weather in the US and the increased supplies to Freeport LNG terminal ahead of the updated EIA inventory data later today.

  • The expectation is for the EIA data for the week to 24 Feb to show a draw of -74bcf following on from the -71bcf draw last week. The 5-year average for this time of year is -173bcf.
  • US Natgas APR 23 up 0.1% at 2.81$/mmbtu

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