Welcome to the deficit again edition of Natural Gas Daily!
The long set-up signals are starting to pile up.
- Lower production? ??
- Higher heating demand? ??
- Skewed bearish positioning? ??
- Sustained bullish weather? ?
For the natural gas bulls, one of the most sorely needed ingredients for higher natural gas prices is lower production.
Source: PointLogic
Well, the drop in production, combined with higher heating demand, has now pushed the natural gas market back into a daily deficit.
This, combined with TDDs slightly higher than the 30-year average, is indicating to us the natural gas