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BREAKING: NATGAS dips below $2.20 after EIA report

3:32 PM 20 April 2023

US Energy Information Administration (EIA) released a weekly report on natural gas inventories today at 3:30 pm BST. Report was expected to show a 69 billion cubic feet increase in US stockpiles. However, actual report showed an even bigger build of 75 billion cubic feet. This is a second inventory build in a row and highlights that US heating season is over already. 

NATGAS dropped below $2.20 mark following bigger-than-expected build in US inventories and is now testing $2.17 support zone marked with previous price reaction and 200-hour moving average (purple line). Source: xStation5

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