- Currently, we expect the EIA to report a draw of 241 bcf this week (a final estimate will be released on Wednesday).
- If the latest weather forecast remains unchanged, total natural gas demand should rise by as much as 18.0 bcf/d y-o-y (on average) over the next two weeks.
- However, daily natural gas consumption will peak tomorrow (Feb. 16).
- Natural gas production has plunged, but, it seems, it is already finding a bottom.
- Short-term price spikes are still possible. The only rational reaction to a price spike is to short it.
For further details see:
Natural Gas Trading: Abnormally Bullish Conditions Will Not Last