Welcome to the no more tank top edition of Natural Gas Daily!
Note: This article was first published to HFIR subscribers yesterday.
In an article we published earlier this week, we noted that the bears were running out of time in trying to push natural gas prices even lower. Following a series of bearish cooling demand revisions, natural gas prices held firm which led traders to believe that prices were starting to bottom. After overnight ECMWF-EPS added five TDDs, prices shot way up today with August touching $1.8/MMBtu.
EIA natural gas storage report today