Investing.com UK - Financial Markets Worldwide
🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

U.S. natural gas saw 50 bcf draw last week, more than double from previous week

AuthorBarani Krishnan
Published 15/12/2022, 15:42
© Reuters.
NG
-

By Barani Krishnan

Investing.com -- Utilities pulled 50 billion cubic feet from U.S. natural gas storage last week, more than double the previous week’s draw, the Energy Information Administration said Thursday, even with heating demand indicated to be less colder than normal for this time of year.

Analysts tracked by Investing.com had anticipated a draw of 45 bcf from stockpiles during the week ended Dec. 9. In the prior week to Dec. 2, the drawdown was 21 bcf.

There were around 137 actual heating degree days, or HDDs, last week, lower than the 30-year normal of 160 HDDs for the period, according to Reuters-associated data provider Refinitiv.

HDDs, which are used to estimate demand to heat homes and businesses, measure the number of degrees a day's average temperature is below 65 Fahrenheit (18 Celsius).

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.