La Nina is still bullish for Ngas demand in May

[dan_s]

Watch this: https://weather.com/forecast/national/n ... ted-states

La Nina keeps winter weather in the forecast longer for the northern half of the U.S. In at least the first half of May, natural gas demand for space heating will be higher than normal in the upper third of the country while demand for power generation will ramp up in the Southwest, including Texas.

With coal prices where they are today (over $325/ton) and in short supply, utilities will not be doing much gas-to-coal fuel switching for power generation this summer. Combined with high exports of LNG, we should see the ngas storage deficit to the 5-year average increase monthly.

Keep an eye on La Nina. Some of the coldest U.S. winters have been caused by back-to-back La Ninas.