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
Oil prices rise as US and Iran extend talks into next weekUS-Iran talks end with no deal but signs of progressOPEC+ to consider oil output increase for April, sources sayBrent and WTI benchmarks register slight daily gainsBy Anna Hirtenstein LONDON, Feb 27 (Reuters) - Oil prices rose on Friday but were on track to finish the week relatively flat after t...
US-Iran talks end with no deal but signs of progressOPEC+ to consider oil output increase for April, sources sayBrent and WTI benchmarks register slight daily gainsBy Anna Hirtenstein LONDON, Feb 27 (Reuters) - Oil prices rose on Friday but were on track to finish the week relatively flat after t...
Silver Price Forecast: XAG/USD jumps above $90 as AI valuation risks boost safe-haven demandSilver price (XAG/USD) is up 2.4% to near $90.60 during the European trading session on Friday. The white metal strengthens as escalating concerns over valuations of Artificial Intelligence (AI) stocks have prompted demand for safe-haven assets.
Silver price (XAG/USD) is up 2.4% to near $90.60 during the European trading session on Friday. The white metal strengthens as escalating concerns over valuations of Artificial Intelligence (AI) stocks have prompted demand for safe-haven assets.
Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility.
Gold rises to near $5,200 amid US tariff uncertainty, US PPI data in focusGold (XAU/USD) attracts some buyers to around $5,195 during the early Asian session on Friday. The precious metal edges higher as US tariff uncertainty spurs safe-haven demand. Traders await the release of the US January Producer Price Index (PPI) reports later on Friday for fresh impetus.
Gold (XAU/USD) attracts some buyers to around $5,195 during the early Asian session on Friday. The precious metal edges higher as US tariff uncertainty spurs safe-haven demand. Traders await the release of the US January Producer Price Index (PPI) reports later on Friday for fresh impetus.
Bitcoin price nears $70,000 as market bullish sentiment rebounds.On Thursday (February 26), Bitcoin (BTC) saw a rare strong rally recently, jumping nearly 4% on the day to a high above $6
