Wednesday, June 20, 2012

Good Thoughts About the Weekly Natural Gas Inventories

From a WSJ article,

"[S]trong demand from utilities, burning cheaper gas rather than coal, has lifted prices in recent weeks to near $2.75/mmBtu. They have since calmed to near $2.50/mmBtu, a level traders said will keep gas competitive with coal and slowly whittle down the huge inventory glut. [...] The size of the gas glut relative to the five-year average has dropped to 666 bcf from 927 bcf at the end of March."
We'll see how tomorrow's numbers look.

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