Free Trial

US Recovers after Decline on Large EIA Stock Build

NATGAS

US Natgas ticking upwards today after falling yesterday on high production and an above expectation build in gas inventories from EIA.

    • US Natgas OCT 22 up 1.2% at 7.17$/mmbtu
  • Stocks built by 103bcf compared to an expectation for a build of +94bcf. Total stocks are now just over 9% below the 5-year average compared to 11% below in August. High production and a recent easing of demand have allowed for higher storage injections.
  • Lower 48 dry gas production was estimated at 100.2bcf/d yesterday.
  • Mixed temperature forecasts are today providing some support with domestic demand maintaining just above normal and estimated at 68.7bcf/d.
  • Exports are relatively unchanged with deliveries to LNG export terminals at 11.3bcf/d and flows to Mexico at 6.6bcf/d.

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.