Natural Gas Futures - Jan 23 (NGF3)

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  • Bid/Ask:
  • Day's Range:
    6.544 - 6.838
  • Type:Commodity
  • Group:Energy
  • Unit:1 Mmbtu

Natural Gas Futures Discussions

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  • What is an acceptable amount of storage volume, for winter months, to provide 300million people with gas. If on average they would need 70bcf per week to replenish stocks, for the next 4months. At the moment they adding 12bcf to 15bcf per week which is laughable number. Biden is environmentalist and I hope he is aware of the damage that will cost the economy if they don't increase production.
    •    BUT surely you should NOT use 2020 for any comparisons?  Inventory in 2020 was vastly higher than the prior years 2200bcf v 1873bcf (using the last week's data).
    • Under Trump US was adding 70bcf into storage on a weekly basis, under Biden we added 20bcf in 2weeks. Biden has ordered general maintenance on gas pipelines that leak methane. So this has caused a drop in production. Let's see how the report moves the price this Thursday. There was 2gas rigs added to Baker Hughes report. If price opens down tonight I think we could see a drop back down in price.
    • I ve used average of last 5 years