Energy Prospectus

Yesterday’s rally was driven by a rather significant cooldown in the 14-day temperature outlook. Both the GFS and ECMWF added over 25 GWDDs each yesterday for the period, with the ECMWF’s 14-day accumulated total actually climbing above long-term averages, as shown in the Figure to the right. The majority of these GWDD gains were in the December 15-21 period. As the forecast now stands, I am still projecting that inventories will flip to a storage surplus versus the 5-year average but then promptly back to a deficit by the week ending December 23.

Back to normal around December 17th. He still forecast's a storage surplus to 5 year. The worst is over for now. Look for a recovery in oil and NG today

today’s EIA report—bearish vs both the 5-yr avg & vs expectations—is a disappointment & indicates a still-loose supply/demand imbalance. #Natgas prices are being propped up by a colder temperature forecast. If this outlook fizzles, well, look out below

I'd also add that RRC, EQT, CRK, and AR all fell below their 50-day moving average this week.

Forecasts over the next two weeks are Turning colder. We should get a ~200Bcf draw right before Christmas.

Weather getting colder , ng hit 7.01 in prematket Sunday night
Even crk will move up on that
Jerry Jones is happy Cowboys beat Houston weather got colder