The Outlook for natural gas demand

[dan_s]

Base on Joe Bastardi's weather forecast ( Watch his Saturday Summary here: https://www.weatherbell.com/premium/), we should see draws from U.S. natural gas storage that average over 200 Bcf per week for the next six weeks.

If so, the storage surplus to last year will be wiped out by the end of January.

Natural gas prices in Asia and Europe are over $10/MMbtu so LNG exports should remain near capacity through March.

[aja57]

This doesn't seem to square with Weatherman Joe.
https://www.tradingview.com/news/mtnewswires.com:20240115:A3057577:0/

[aja57]

https://www.tradingview.com/news/te_news:399669:0-ttf-gas-hits-20-week-low/

[dan_s]

EIA has reported five straight weekly draws from storage that were below the 5-year year average draws and we might get one more next week. After that I think we will see larger than average draws for several week.

Why?
> Draw for the week ending January 19th should be over 250 Bcf.
> Very cold in Appalachia which should cause lots of well freeze offs in the Marcellus and Utica shale plays.