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Msg  326505 of 353368  at  5/3/2021 1:44:47 PM  by

Ed Ajootian


Re: Two Charts of NG Inventories

 

Natural Gas Edges up as Temperatures Bring Cooling Demand; Export Strength to Continue

BY MT Newswires
— 9:37 AM ET 05/03/2021

09:37 AM EDT, 05/03/2021 (MT Newswires) -- Benchmark natural gas traded edged higher early on Monday on expectations that export demand will remain robust with higher domestic demand expected.

Gas for June delivery was last seen up US$0.01 to US$2.94 per million British thermal units in Nymex electronic trade.

The rise comes as export demand remains high, with European inventories depleted following a cold winter and U.S. production remains low, supporting prices.

"Henry Hub strip '21 pricing has picked up ~$0.25/mmbtu over the past 3 weeks but we still see another $0.25 move remaining with further upside into 2022," Tudor, Pickering & Holt said in a note.

While mild temperatures have cut into domestic demand, NatGasWeather said it expects use to rise this week on cooling demand in the west.
 
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Nice to see TP&H continuing to bang on the table here. 
 
They also see "further upside into 2022" vs. Nymex going back down to the $2.50 area as per the futures. 


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Msg # Subject Author Recs Date Posted
326521 Re: Two Charts of NG Inventories Nuclear_Beltdown 2 5/3/2021 3:32:43 PM


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