US natural gas inventory fell by more than 200 Bcf during the second week of 2022, much more than the market expected, yet the Henry Hub prompt retreated nearly 20 cents during early trading on Jan. 20.
Storage fields withdrew 206 Bcf for the week ended Jan. 14, according to data released by the US Energy Information Administration on Jan. 20. It was stronger than the 193 Bcf draw expected by an S&P Global Platts survey of analysts. It was outside the range of respondents as the largest withdrawal expected was 200 Bcf. The drawdown also outpaced five-year average of 167 Bcf and last year’s 179 Bcf pull in the corresponding week. Working gas inventories decreased to 2.810 Tcf. US storage volumes now stand 226 Bcf, or 7.4%, less than the year-ago level of 3.036 […]