- Currently, we expect the EIA to report a draw of 125 bcf next week (a final estimate will be released on Wednesday).
- If the latest weather forecast remains unchanged, total natural gas demand should edge up by 0.8 bcf/d y-o-y (on average) over the next two weeks.
- Dry gas production has recovered and has even managed to rise above last year's level.
- Storage deficit vs. 5-year average is projected to shrink by 35 bcf by April 2 (from -205 bcf to -170 bcf).
- We should have held our short positions for longer.
For further details see:
Natural Gas Trading: Not The Best Time To Be Long