Chicago Weather
Posted: Thu Feb 08, 2018 9:44 am
Chicago is the Bull's Eye for natural gas demand. It is getting hammered today by Mother Nature with 6-12 inches of snow expected over the next few days.
See: https://www.wunderground.com/forecast/u ... alwx_10day
Analysis here: https://www.weatherbell.com/premium/
Today's natural gas storage report is expected to show a draw below normal (-146 Bcf is the 5-year average), but the next two weeks should be large draws from storage.
Natural gas storage was 2,197 Bcf at January 26, so we are now sure to see ending storage way below the 5-year average of 1,700 Bcf. The question is "How low will it go?". My SWAG is that storage ends up ~1,200 Bcf on March 31st.
See: https://www.wunderground.com/forecast/u ... alwx_10day
Analysis here: https://www.weatherbell.com/premium/
Today's natural gas storage report is expected to show a draw below normal (-146 Bcf is the 5-year average), but the next two weeks should be large draws from storage.
Natural gas storage was 2,197 Bcf at January 26, so we are now sure to see ending storage way below the 5-year average of 1,700 Bcf. The question is "How low will it go?". My SWAG is that storage ends up ~1,200 Bcf on March 31st.