November 24, 2022 12:55 GMT
US Natgas holding steady on low trading volumes due to the US holiday after a bigger than normal draw in US inventories in EIA data released yesterday.
- US Natgas DEC 22 down -0.2% at 7.29$/mmbtu
- The US natural gas inventories for the week ending Nov 18 declined by -80bcf compared to expectation of a draw of -89bcf and the 5-year average for this time of year is -43bcf. The stock draw was driven by a recent demand boost due to below normal temperatures and takes total US inventories to 3,564bcf.
- US weather forecast continues to suggest a mixed picture with cold in the West but warmer in the East and more widespread cold expected in the 8-14 day forecast period. Lower 48 gas consumption is today estimated below normal at approximately 78bcf/d.
- US dry gas production is unchanged from yesterday at 101.8bcf/d.
- Deliveries to US LNG export terminals are today down to 11.4bcf/d with a drop in supplies to Sabine Pass LNG and Corpus Christi LNG.