BREAKING: NATGAS muted after in-line inventory data

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 US natural gas inventories climbing by 33 billion cubic feet (bcf), following a 35 bcf increase in the previous week.

Actual report turned out to be almost in-line with market expectations, with inventories climbing 33 billion cubic feet during the week through August 23, 2024. As data was in-line with expectations, there was no major reaction on US natural gas futures (NATGAS). NATGAS still trades slightly lower on the day, continuing pullback launched after failed attempt to break above $2.25 per MMBTu area earlier this month.

Source: xStation5

Source: Bloomberg Finance LP