Ngas prices getting a boost from cold thru April 10
Posted: Sat Mar 26, 2022 5:23 pm
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If Joe's weather forecast is correct, US natural gas in storage will be ~400 Bcf below the 5-year average on April 15th. As I point out in the podcast, if LNG exports stay near our export capacity, it will be extremely hard to refill ngas storage before the next winter arrives. I now think the deficit to the 5-year storage level will keep growing in Q2. If that happens thru June, we may see $8.00 ngas prices in Q3.
If Joe's weather forecast is correct, US natural gas in storage will be ~400 Bcf below the 5-year average on April 15th. As I point out in the podcast, if LNG exports stay near our export capacity, it will be extremely hard to refill ngas storage before the next winter arrives. I now think the deficit to the 5-year storage level will keep growing in Q2. If that happens thru June, we may see $8.00 ngas prices in Q3.