BREAKING: NATGAS drops after EIA report

3:30 PM May 25, 2023

US Energy Information Administration (EIA) released a weekly report on US natural gas inventories today at 3:30 pm BST. Report was expected to show a 100 billion cubic feet increase in US inventories, following a 99 billion cubic feet increase in the previous week. Actual report showed a 96 billion cubic feet increase - a small miss compared to market expectations. US natural gas prices (NATGAS) dropped following the release. NATGAS attempted to break below $2.51 support zone but tested the 50-hour moving average (green line).

NATGAS at H1 interval. Source: xStation5

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