US NATGAS: Henry Hub Unchanged After Large US Storage Draw

Henry Hub front month remains relatively unchanged and still down on the day despite a larger than expected withdrawal in the updated US natural gas storage data from EIA.

• The EIA weekly gas inventories for the week ending Feb. 14 showed a withdrawal of 196bcf.
• A Bloomberg survey average suggests a draw of 191bcf on the week while a Reuters survey shows a 188bcf draw, WSJ a 187bcf draw and NGI a 191bcf draw.
• The seasonal five year average shows a net withdrawal of around 145bcf.
• Total stocks are down to 2,101bcf and 386bcf below levels seen a year ago and 118bcf below the previous five year average of 2,219bcf.
  • US Natgas MAR 25 down 3.5% at 4.13$/mmbtu
  • US Natgas APR 25 down 3.3% at 4.07$/mmbtu
  • US Natgas FEB 26 down 1.9% at 4.73$/mmbtu

Source: EIA