Podcast - May 28

dan_s · Post by **dan_s** » Sat May 28, 2022 6:35 pm

Direct link to the podcast: https://www.youtube.com/watch?v=0nz5RT-6Bbc

The gassers will continue to lead the pack.
Trading Economics: "US natural gas futures slipped below $8.7 per million British thermal units on Friday, after briefly hitting a near 14-year high of $9.45 in the previous session, amid volatility caused by the rolling over of the contract to July and signs that demand may be slowing. Still, the commodity is heading towards a 7% weekly gain as inventories remain low. EIA data showed US natural gas stocks rose by a less-than-expected 80 billion cubic feet last week, and also less than the 5-year average injection of 97 bcf, which puts current inventory levels 15.3% below the 5-year average. The contract more than doubled in value since the beginning of 2022, with the recent bullish run supported by higher cooling demand in the US, as the weather turns seasonally hotter, robust international demand, and sluggish output. Russia's war on Ukraine has caused a global energy crunch, with demand for US LNG set to remain elevated partly due to Europe's calls for US exports to help cut reliance on Russia."