Last Thursday’s EIA US natural gas storage report showed that stockpiles were 1.5% lower than the previous year, but still 6.5% above the 5 year average. While supplies are still healthy, this week’s pattern in the US should still provide some support to spot futures, with another week of strong heating demand across the primary [...]
After natgas touched the $4.50 range, it has retreated to the $4 mark (see Finviz natural gas chart below); notable as we are at the official start of winter. While there has been recent cold weather in the central and eastern US, a supply glut has kept this period of higher demand from causing a [...]
While the weekly EIA US natural gas storage report puts stocks in underground storage 1% lower than a year ago, they are still nearly +10% vs. 5 year ave, and with NAO turning positive, we see spot natgas continuing to slide.
Michael Ferrari, PhD
VP, Applied Technology & Research
While the short range outlook is for a stronger period of heating demand for the current week across many US population centers from the central states through the east, the longer range outlook for this market is not overly constructive. The EIA storage numbers from this morning are still [...]
