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Weekly Natural Gas Storage Report for January 27th

Natural Gas
Miguel A. Rodriguez
Miguel A. Rodriguez
27 January 2023

Here are the latest details from the U.S. Energy Information Administration regarding natural gas inventories for the past week.  

Demand for natural gas in the US has been decreasing due to mild winter weather, resulting in an 8% drop in prices on Thursday. This is the lowest gas price seen since April 2021.  

Working gas in storage was 2,729 Bcf as of Friday, January 20, 2023, according to EIA estimates. This represents a net decrease of 91 Bcf from the previous week. Stocks were 107 Bcf higher than last year at this time and 128 Bcf above the five-year average of 2,601 Bcf. At 2,729 Bcf, total working gas is within the five-year historical range. 

In addition to the US gas production increasing, an extended shutdown of a key Texas gas export hub has further resulted in raising US inventories and reduced exports of natural gas to Europe. Natural gas prices fell to $2.81 per million British thermal units, breaking the $3 key threshold from the previous day. 

 

Source: ir.eia.gov. 

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.