Energy Prospectus

The extreme winter weather in January resulted in seven out of the 10 biggest demand days on record for the U.S., said Bentek, an unit of Platts.

January natural-gas demand averaged 102 billion cubic feet a day, nearly 8 bcf a day higher than the previous maximum monthly average demand and, all told, 241 bcf more natural gas consumption than any other month on record, Bentek added.

I now think natural gas storage levels will be near 1,500 bcf by the end of February. That would be very bullish for prices, especially if the forecast for March is more cold. Looks like big snow coming to St. Louis and eastward in a few days. A record draw from storage on Thursday could make things quite interesting for NYMEX trading.

I sure wish I had a better idea where NGL prices are heading. If anyone has a link to market prices, please post it here.