4:31 PM · 30 November 2023

BREAKING: NATGAS drops after inventory build

Energy Information Administration (EIA) issued an official, weekly report on US natural gas inventories today at 3:30 pm GMT. Report was expected to show an inventory draw of 8 billion cubic feet (bcf), following a 7 bcf drop in the previous week. Actual report showed a 10 bcf build in US natural gas inventories. An unexpected build put pressure on US natural gas prices (NATGAS) with price briefly slumping to a fresh daily low.

NATGAS slumped to a fresh daily low after unexpected build in natural gas inventories. However, part of the drop was erased and now NATGAS trades near $2.78 support zone. Source: xStation5

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