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Re: weather Feb 27-March 5th #2H/CJ

Well, it was a pretty good withdrawl number yesterday yet prices remain low (and down a few cents this am). Next weeks numbers look lower, probably 120 bcf, but the week after's look better than that due to some "artic injections" taking place now and during the next few days primarily over the midwest and into the south. The interesting thing to me is the rig count which continues to fall and the production numbers which have peaked and are likely on the downslope for the rest of the year. So, yes, there is a huge inventory glut, but...lower production will eventually factor in plus there is an elephant in the room, and that's the weather pattern. This summer is more likely than not to be warmer than average. There is a large and growing drought over the far west and a developing one over the SE. TX has gotten somewhat of a break this winter but much of it, the west and south, remains in drought. Drought has a strongly positive effect on maximum temperatures in summer. I think we're seeing this in the climate forecasts now.

Messages In This Thread

weather Feb 27-March 5th
Re: weather Feb 27-March 5th/CJ
Re: weather Feb 27-March 5th #2H/CJ
Re: weather Feb 27-March 5th #2H/CJ