- This Thursday, I expect the EIA to report 2,717 bcf of working gas in storage for the week ending July 23.
- I anticipate seeing a build of 39 bcf, 11 bcf larger vs. the five-year average for this time of the year.
- The latest extended-range ECMWF model shows more CDDs in week 2-week 5.
- However, there is a "bearish divergence" between the latest short-range model and the latest extended-range model.
- Over the next two weeks, the total balance should be slightly tight vs. a year ago at around -0.9 bcf/d y-o-y.
For further details see:
Natural Gas Consumption Has Reached A Seasonal Peak