Natural Gas Demand - Big spike coming in 2 weeks
Posted: Wed Jan 24, 2018 10:06 am
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The national weather service is starting to show it in the 10-day forecasts.
See Chicago here: https://www.wunderground.com/forecast/u ... alwx_10day
The much colder than normal weather and snow is expected to go deep into the South. By February 10, Atlanta is now expected to see single digit lows.
If gas in storage drops to 1,000 Bcf by March 31st, the increased and very unexpected demand to refill storage should support natural gas prices over $3.00 all year. I am expecting EIA to report a 250+ Bcf draw from storage for the week ending January 12 tomorrow. The 5-year average draw is 167 Bcf.
The national weather service is starting to show it in the 10-day forecasts.
See Chicago here: https://www.wunderground.com/forecast/u ... alwx_10day
The much colder than normal weather and snow is expected to go deep into the South. By February 10, Atlanta is now expected to see single digit lows.
If gas in storage drops to 1,000 Bcf by March 31st, the increased and very unexpected demand to refill storage should support natural gas prices over $3.00 all year. I am expecting EIA to report a 250+ Bcf draw from storage for the week ending January 12 tomorrow. The 5-year average draw is 167 Bcf.