3:31 PM · 8 February 2024

BREAKING: NATGAS ticks higher after EIA data

US Energy Information Administration (EIA) released an official weekly report on US natural gas inventories today at 3:30 pm GMT. Consensus among economists was for 73 billion cubic feet drop, following last week's 197 bcf draw. Actual report came almost in-line with market expectations, showing an inventory drop of 75 billion cubic feet. US natural gas prices (NATGAS) jumped in a knee-jerk move but scale of this jump was very small.

NATGAS jumped slightly after release of inventory data but continues to trade within the short-term downward channel. Source: xStation5

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