COM - U.S. Natural Gas Market: Elevated Domestic Prices Are Mostly Due To The External Factors
- This Thursday, I expect the EIA to report 1,421 bcf of working gas in storage for the week ending Mar. 25.
- I anticipate seeing a draw of 32 bcf, 55 bcf larger vs. the five-year average for this time of the year.
- The latest numerical weather prediction models agree that over the next 15 days, TDDs will be trending lower but will remain largely within the norm.
- Over the next 30-day period, total natural gas demand is expected to average 94.5 bcf/d, 0.9 bcf/d more than a year ago.
- The annual storage deficit is currently projected to expand by just 1 bcf by Apr. 22. The storage deficit relative to the five-year average is projected to expand by 3 bcf over the same period.
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U.S. Natural Gas Market: Elevated Domestic Prices Are Mostly Due To The External Factors