- Currently, I expect the EIA to report a build of 89 bcf next week (a final estimate will be released on Wednesday).
- I also expect a 26 bcf build in the South-Central region of the United States.
- The annual storage deficit is currently projected to shrink by as much as 278 bcf by October 29.
- Fundamentally, we are yet to see any real evidence as to why the excessive bullishness over the past five months was even necessary.
- Global natural gas prices remain record-high and continue to fuel bullish sentiment in NYMEX Henry Hub futures.
For further details see:
Natural Gas: Storage Deficit Is Shrinking