EIA Cuts Henry Hub Gas Forecast Despite Tighter Supply
Federal forecasters trimmed more than 100 Bcf from their end-of-October storage forecast, though the tighter supply outlook did not lift price projections.
Federal forecasters have reduced their end-of-October natural gas storage projection by more than 100 Bcf, according to NGINaturalGas. Despite the slimmer supply cushion, the revision failed to lift the official Henry Hub price forecast.
Storage Outlook
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The downward adjustment to storage figures highlights a tightening supply outlook heading into the end of October. However, market pricing projections did not reflect the contraction in inventories.
Key facts
- Federal forecasters cut more than 100 Bcf from the end-of-October storage forecast
- The slimmer supply cushion failed to lift the Henry Hub price forecast
- Data reported by NGINaturalGas
Source: naturalgasintel.com
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