GAZB - Natural Gas Market: Tactical Short Or Strategic Long?
- This Thursday, we expect the EIA to report 3,967 bcf of working gas in storage for the week ending October 23.
- We anticipate to see a build of 41 bcf, which is 48 bcf smaller than a year ago and 28 bcf smaller vs. the 5-year average.
- The storage "surplus" relative to the 5-year average is projected to shrink by 202 bcf by November 27.
- Next week (ending November 6), the weather conditions are expected to warm up slightly in the contiguous United States.
- Supply-demand balance for the week ending November 13 is currently projected to be rather bearish (vs. a year ago), so the bulls should be careful.
For further details see:
Natural Gas Market: Tactical Short Or Strategic Long?