FCG - Natural Gas: The Sentiment Is Excessively Bearish
- This Thursday, we expect the EIA to report 3,853 bcf of working gas in storage for the week ending December 4.
- We anticipate to see a draw of 86 bcf, which is 29 bcf larger than a year ago and 25 bcf larger vs. the 5-year average.
- Annual storage surplus is projected to shrink by 256 bcf by January 8.
- Next week, the weather conditions are expected to cool down substantially. The number of nationwide HDDs is currently projected to increase by 15.6% w-o-w.
- Our latest SD balance forecast (scroll down to see the last chart).
For further details see:
Natural Gas: The Sentiment Is Excessively Bearish