Welcome to the two-way street edition of Natural Gas Daily!
For the bears (glass half empty), there are many reasons to remain bearish on the market today.
- Record cooling demand for July and natural gas prices couldn't even hold $1.80/MMBtu.
- LNG exports recovering but still far below the capacity of ~10 Bcf/d.
- Associated gas production returning pushing production back to ~90 Bcf/d.
- Storage remains 436 Bcf above the five-year average.
For the bulls (glass half full), there are many reasons to get bullish on the market today.
- Low prices have further curtailed drilling and completion