KOLD - U.S. Natural Gas Market: The Weather Is Bearish But Production Is Sluggish And Geopolitics Is Messy
- This Thursday, I expect the EIA to report 1,440 bcf of working gas in storage for the week ending Mar. 11.
- I anticipate seeing a draw of 79 bcf, 14 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 higher but will remain largely below the norm.
- Over the next 30-day period, total natural gas demand is expected to average 96.1 bcf/d, 0.5 bcf/d more than a year ago.
- The annual storage deficit is currently projected to expand by 20 bcf by Apr. 8. However, the storage deficit relative to the five-year average is projected to shrink by 76 bcf over the same period.
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U.S. Natural Gas Market: The Weather Is Bearish But Production Is Sluggish And Geopolitics Is Messy