Energy Prospectus

Working gas in storage was 3,483 Bcf as of Friday, November 25, 2022, according to EIA estimates.
This represents a net decrease of 81 Bcf from the previous week.
Stocks were 89 Bcf less than last year at this time and 86 Bcf below the five-year average of 3,569 Bcf.
At 3,483 Bcf, total working gas is within the five-year historical range.

Based on Joe Bastardi's colder than normal weather forecast, I now expect triple digit draws from storage over the last 5 weeks of 2022 that will add up to draws of 680 Bcf (194 Bcf over the 5-year average). A cold December will push storage to 280 Bcf below the 5-year average by December 31st.
Combine that with Freeport LNG coming back online and we have the recipe for a "Super Spike" in gas prices.

You would think with an EIA report of this draw, Natural Gas would be up. Strange. May be reacting to the overall downward shift in the Dow, etc.

The draw as within the range that was expected.

If rail strike has actually been avoided then coal to gas switching for power generation can be avoided.

Keep an eye on the temperatures in the 7 cities that burn the most ngas for space heating here:
https://www.celsiusenergy.net/p/intraday-weather.html < you can also scroll down, click on the current temperatures map and check the 10-day temperature forecasts for the U.S. that are very bullish. We ending December 9 now looks like it will be a 200 Bcf draw from storage.