Free Trial

US Natgas Unchanged after Smaller Than Normal Stock Draw

NATGAS

US Natgas remains largely unchanged after EIA data came in with a slightly larger than expected stock draw. The draw was smaller than normal due to high production levels, moderate demand and limited LNG exports.

  • US Natgas MAR 23 up 3.2% at 2.55$/mmbtu
  • The latest EIA weekly gas inventories for the week ending 27 Jan showed a -151bcf draw compared to expectation of a -145bcf draw and the 5-year average for this time of year of -174bcf.
  • Total US stock levels for week ending 20 Jan have been revised higher by 5bcf to 2,734bcf.
  • Total US inventories are now above the five year average at 2,583bcf.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.