Loading…
The EIA reported an 87 Bcf withdrawal from US natural gas storage for the week ended Dec. 16, smaller than the five-year average draw of 124 Bcf and below the 94 Bcf analyst consensus.
Total inventories reached 3.325 Tcf, a 0.7% surplus to the five-year average. Cold weather lifted heating demand and LNG feedgas.
A smaller-than-expected draw points to looser US gas supply, which is slightly bearish for Henry Hub futures and for natural gas as a fertilizer and energy input cost.
spglobal.comDec 22, 2022After 62 past bearish report events, Natural Gas moved a median -3.0% over 5 sessions (42% higher; middle half -7.6% to +4.6%), and -0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
