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Nat Gas Bullish , not Bearish!


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Nat Gas Bullish , not Bearish!

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  #121 (permalink)
 ron99 
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I found a #Natgas winter similar to 17/18. 02/03 had 24 weeks of 2,530 Bcf of withdrawals. 17/18 is at 24 weeks with 2,509 Bcf of withdrawals. Only 2 years since 1992 have gone over 22 weeks.


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  #122 (permalink)
 ron99 
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SMCJB View Post
Draw of 18. I think I'm correct this week in saying it's the largest draw for this week of the year and only the second time we have drawn stocks this late in the year. Still a cumulative withdrawal so far this month, where as traditionally we would have added 100-200 BCF of gas into storage already.

In April through the 26th, NG for LNG export has been 86.69 Bcf.

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 SMCJB 
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ron99 View Post
In April through the 26th, NG for LNG export has been 86.69 Bcf.

It's interesting if you look at prices around the country for May delivery, other than Socal Citygate the entire country is trading below the Gulf Coast. This is a complete reversal from 10 years ago where the Gulf Producing area's were the cheapest in the country. One obvious big change is the Pennsylvania/Appalachian shale gas is oversupplying the midwest and NE, but the other change is as @ron99 mentions the export of LNG which is mostly out of the Gulf Coast.

While gas in May at Hub is $2.80, at Dominion (PA/App) it's only $2.25, out in West Texas/Permian Basin it's only $1.40! So the $2.80 NYMEX price isn't reflective in anyway of the price that producers are getting!

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