The "gassers" are getting some love today because the weather forecast has turned bullish for natural gas. Beginning around Sept 17 the eastern half of the U.S. will flip to warmer than normal with lots of humidity in the South. In Houston our daily highs will be in the 90s starting tomorrow. At the same time, the west will be much cooler than normal with nightly lows under 50 in many areas. Demand for gas will increase and we should see storage go below the 5-year average by the end of September.
The hurricanes have impacted demand for natural gas, but the exports should soon be back to normal. Demand for power generation will stay below normal for another week or so.
AR, GPOR and RRC
AR, GPOR and RRC
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group