US posts largest weekly natural gas drawdown since 2021
Last week's cold snap led to one of the largest US natural gas inventory draws on record as 326bcf left the system. However after rallying in mid-January, the natural gas market was slumping last week on forecasts for warmer weather ahead.The latest draw was close to estimates and US supplies are still at the high end of seasonal norms with producers continuing to run at full-bore. This article was written by Adam Button at www.forexlive.com.
Last week's cold snap led to one of the largest US natural gas inventory draws on record as 326bcf left the system. However after rallying in mid-January, the natural gas market was slumping last week on forecasts for warmer weather ahead.
The latest draw was close to estimates and US supplies are still at the high end of seasonal norms with producers continuing to run at full-bore. This article was written by Adam Button at www.forexlive.com.
