GAZB - Natural Gas Prices Hit 25-Year Lows As Concerns About Storage Tank Top Build
Welcome to the NG tank top edition of Natural Gas Daily!
Don't argue with the market, and instead, listen to what it is saying. And today's price action is saying that the market is now legitimately concerned about the development of natural gas storage by October.
(Source: EIA, HFI Research)
Based on our estimates, storages by November should be in order, especially considering that LNG exports are going to start rebounding decently by September.
(Source: CME, HFI Research)
(Source: PointLogic)
LNG feedgas has already started to rebound slightly back to ~5 Bcf/d, but remains far