US gas storage falls by 258Bcf – ING
Source Fxstreet
EIA weekly gas storage data shows that US gas storage fell by 258Bcf last week, which is the third largest weekly decline since early 2022, ING's commodity analysts Warren Patterson and Ewa Manthey note.
EU storage continues to trend below the five-year average
"Despite the large draw, it was largely in line with market expectations. Ahead of the release, the market was expecting a draw of around 260Bcf."
"Meanwhile, in Europe, storage continues to trend below the five-year average with it now a little over 63% full, down from 78% at the same stage last year and below the five-year average of 70% full. Milder weather is forecast in NW Europe next week, which could slow the pace of draws."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
The Japanese Yen (JPY) edged higher against its American counterpart during the Asian session on Thursday and moves away from the weekly low touched the previous day.
Gold price (XAU/USD) trades with a positive bias for the third consecutive day and climbs to over a two-week high, around the $2,942-2,943 region during the Asian session on Thursday.
XRP price started a fresh recovery wave above the $2.00 zone. The price is now showing positive signs and might clear the $2.250 resistance zone. XRP price started a fresh recovery wave above the
Ethereum (ETH) traded around $1,860 in the Asian session on Thursday as its price remained largely subdued by bearish sentiment weighing on the general crypto market.
EUR/USD corrects to near 1.0860 in European trading hours on Thursday.
