4:33 PM · 8 December 2022

NATGAS fell slightly after EIA report

The US Energy Information Administration reported today that domestic supplies of natural gas decreased by -21 billion cubic feet for the week ended December 2 from -81 bcf in the previous week, while markets expected -31 billion cubic feet drop. Total working gas stocks in storage stand at 3.462 trillion cubic feet, down 51 billion cubic feet from a year ago and 58 billion cubic feet below the five-year average.

NATGAS price bounced off resistance at $6.00 and may be moving towards local support at 5.72. Source: xStation5

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