A couple of quick notes here on supply. Permian natgas production is 1.38 Bcf/d above the same week last year per RBN Energy. Higher prices are holding production higher.
Outbound natural gas flows from Appalachia over the weekend hit a new record high of 17.3 Bcf/d and averaged 16.7 Bcf/d for April — an all-time high for any month.
US natgas production and supply are where they were this time last year. 91.4 Bcf/d and 96.1 Bcf/d respectively. Imagine that. The big drop to 80-82 Bcf/d never happened. https://www.eia.gov/naturalgas/weekly/
Futures prices are within a dime of $3 all the way to December. And May '22 is at 2.52.