Weekly Natural Gas EIA Storage Report for 25th February

Weekly Natural Gas EIA Storage Report for 25th February

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

U.S. based freeze-offs contributed to the lower natural gas production & higher natural gas prices.

The dry natural gas production fell by 21.0 bcf/d, declining primarily because of flow blockages, with a large portion of the decrease in natural gas production stemming from the Texas freeze.

This week's significant price increases for many natural gas hubs resulted from a freezing winter season, and the heating and power demand for natural gas. It seems like these factors, combined with a sudden decrease in natural gas production due to the pandemic, pushed the prices towards all-time highs, as reported by the Waha Hub and Chicago Citygate.

These domino effects from the supply & demand imbalance also led to solid price pressures in some less affected markets by the recent cold weather.

Sources: eia.gov

This information prepared by za.capex.com is not an offer or a solicitation for the purpose of purchase or sale of any financial products referred to herein or to enter into any legal relations, nor an advice or a recommendation with respect to such financial products.

This information is prepared for general circulation. It does not regard to the specific investment objectives, financial situation or the particular needs of any recipient.

You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.

This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent. Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of za.capex.com

JME Financial Services (Pty) Ltd trading as ZA.CAPEX.COM acts as intermediary between the investor and Magnasale Trading Ltd, the counterparty to the contract for difference purchased by the Investor via ZA.CAPEX.COM, authorised & regulated by the Cyprus Securities and Exchange Commission with license number 264/15. Magnasale Trading Ltd is the principal to the CFD purchased by investors.