Yesterday’s rally was driven by a rather significant cooldown in the 14-day temperature outlook. Both the GFS and ECMWF added over 25 GWDDs each yesterday for the period, with the ECMWF’s 14-day accumulated total actually climbing above long-term averages, as shown in the Figure to the right. The majority of these GWDD gains were in the December 15-21 period. As the forecast now stands, I am still projecting that inventories will flip to a storage surplus versus the 5-year average but then promptly back to a deficit by the week ending December 23.
Back to normal around December 17th. He still forecast's a storage surplus to 5 year. The worst is over for now. Look for a recovery in oil and NG today
Daily update (weather from celsius), latest
Re: Daily update (weather from celsius), latest
today’s EIA report—bearish vs both the 5-yr avg & vs expectations—is a disappointment & indicates a still-loose supply/demand imbalance. #Natgas prices are being propped up by a colder temperature forecast. If this outlook fizzles, well, look out below
Re: Daily update (weather from celsius), latest
I'd also add that RRC, EQT, CRK, and AR all fell below their 50-day moving average this week.
Re: Daily update (weather from celsius), latest
Forecasts over the next two weeks are Turning colder. We should get a ~200Bcf draw right before Christmas.
Re: Daily update (weather from celsius), latest
Weather getting colder , ng hit 7.01 in prematket Sunday night
Even crk will move up on that
Jerry Jones is happy Cowboys beat Houston weather got colder
Even crk will move up on that
Jerry Jones is happy Cowboys beat Houston weather got colder