Yes reports are bogus so you go opposite direction usually when to many bulllish on NG you go $KOLD$$$$$
Got the money have 20% of my $73s left and dared add some $85s on the small dip was hoping for a dip but what the heck. About the whole US will be in record warm winter temperatures next week and industrial production report is tanking ..
US Natgas Prices Fall to 2-Week Low after EIA Data
US natural gas futures extended losses to below $2.8/MMBtu on Thursday, the lowest in two weeks, after EIA reported a smaller-than-expected storage draw. Government data showed US utilities pulled 154 billion cubic feet of natural gas from storage last week, less than market expectations of a 164 bcf decrease. The report also showed gas in storage remains 11.2% above the seasonal norm. Natural gas prices were already under pressure due to forecasts of reduced demand and increased output due to warmer late-January weather. Additionally, US LNG export plant flows hit a one-year low, likely due to energy firms redirecting gas to the domestic market amid elevated power gas prices caused by extreme cold.
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US Natural Gas Stocks Fall Less than Expected: EIA
US utilities pulled 154 billion cubic feet of natural gas from storages during the week that ended January 12, 2024, less than market expectations of a 164 bcf draw. That compares with a withdrawal of 68 bcf in the same week last year and a five-year (2019-2023) average decline of 126 bcf. Last week's decrease cut stockpiles to 3.182 trillion cubic feet (tcf), 350 bcf higher than last year at this time and 320 bcf above the five-year average of 2.862 tcf. At 3.182 tcf, total working gas is above the five-year historical range.
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