COM - U.S. Natural Gas Market: I Am Starting To Build A Short Position

February, 16 2022 11:40 AM Direxion Auspice Broad Commodity Strategy

This Thursday, I expect the EIA to report 1,912 bcf of working gas in storage for the week ending Feb. 11.
I anticipate seeing a draw of 189 bcf, 35 bcf larger vs. the five-year average for this time of the year.
The latest short-range weather models were very bullish (vs. the previous update). ECMWF 00z Ensemble has "added" some 47 bcf of potential natural gas consumption compared to yesterday's 00z results.
Over the next 30-day period, total natural gas demand is expected to average 116 bcf/d, 6.6 bcf/d more than a year ago.
The annual storage deficit is currently projected to shrink by 124 bcf by Mar. 11.

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Company Name:	Direxion Auspice Broad Commodity Strategy
Stock Symbol:	COM
Market:	NYSE