Natural Gas Storage Report - August 6

[dan_s]

Working gas in storage was 2,912 Bcf as of Friday, July 31, 2015, according to EIA estimates. This represents a net increase of 32 Bcf from the previous week. Stocks were 535 Bcf higher than last year at this time and 64 Bcf above the 5-year average of 2,848 Bcf.

I think we see natural gas over $3.00/mcf by the end of September.

If gas in storage goes below the 5-year average, we will see gas over $3.50/mcf by end of November.

BTW U.S. natural gas production is now falling by at least 300 million cubic feet per day month after months. See link below.
http://www.eia.gov/petroleum/drilling/#tabs-summary-2

[setliff]

<I think we see natural gas over $3.00/mcf by the end of September.>

making a big move in that direction today.
I would not be too surprised if natty took control of the o&g equities and even becomes the driver of the services.

[dan_s]

I think we see $3.00 in September and $3.50 in December.