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US Tocks Lower Ahead of EIA Stock Data

NATGAS

US Natgas pulling back with strong production expected to support above normal storage injections in EIA inventory data later today.

    • US Natgas OCT 22 down -1.3% at 7.68$/mmbtu
  • EIA data today is expectation to show a build of +94bcf with total stocks still 10% below the 5-year average. Last week saw a build of +77bcf and the 5-year average for this time of year is +88bcf.
  • Weather forecasts remain mixed with above normal temperatures forecast in the west but below normal in the east. Lower 48 dry gas demand is still above normal at around 69.4bcf/d.
  • US dry gas production is still strong with yesterday estimated at 99.65bcf/d.
  • Exports are holding steady with deliveries to LNG export terminals at 11.6bcf/.d and flows to Mexico at 6.6bcf/d

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