BREAKING: NATGAS tests $2.50 area after EIA data

3:32 PM 16 May 2024

US Energy Information Administration (EIA) issued an official weekly report on US natural gas inventories today at 3:30 pm BST. Report was expected to show a 76 billion cubic feet build in US gas inventories, what would be a build in-line with 5-year averages.

Actual data showed a 70 billion cubic feet build, slightly smaller than expected and near 5-year low for the period. NATGAS extended gains following the release and is now testing the $2.50 resistance zone.

Source: xStation5

Reported inventory build was near a 5-year low for the current period of the year. Source: Bloomberg Finance LP, XTB Research

Share:
Back

Join over 1 600 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits