- This Thursday, we expect the EIA to report 1,815 bcf of working gas in storage for the week ending February 26.
- We anticipate to see a draw of 128 bcf, which is 9 bcf larger than a year ago and 47 bcf larger vs. the five-year average.
- The latest short-range weather models turned bullish and, therefore, natural gas price has increased (temporarily).
- Storage deficit relative to the 5-year average is projected to shrink by 39 bcf by April 2.
- We are short May and June contracts for three reasons (scroll down to "Trading Strategy" section below).
For further details see:
Natural Gas Is Overvalued (Again)