the word is spreading about the NG sitch From a financial blog i follow.
You have to look more closely at the data
wrs - Wed, Apr 10, 2013 - 11:03 AM
"They are very skewed to the low side on storage based on two really cold winters in 2008 and 2010. Only in 2008 were there storage draw downs all through March and into April. This week there is probably going to be one more draw down and that will take the reserves down even further below the 5 year average because normally there are additions by now. The draw downs during march for 2008 were much less than this year. That is why the overall level is 37bcf below the 5 yr average now. In 2008 it was the same amount below the 5yr avg at this same time. The lowest it got was 102 below but that was in March. So by now, it was coming back up. This time, it's still falling. I think the comparisons should provide a significant shock to the market. That assumes there is some amount of draw down for the week which I think there should be at least 50bcf of draw down. Remember what prices did in 2008."
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