NattyEnjoying a morning coffee and looking at weekly natty numbers. Nymex NG down 8 straight days.
Real time USA natty power demand is really poor right now, I think the USA auto strike has a bit do with it, industrial production is scaling back in usa with that strike, lot of suppliers that rely on GM, Ford and Stellantis.
Yesterday was a 12 bcf build versus 8 bcf daily five year average according to best modelers forecaster that I follow, that would be celuisnergy.com..best ng supply and demand forecaster there is, i have followed him for 20 years and can vouch for it accuracy as he uses real data for alot of it from gov websites.
More things that use diesel should be switching to natty. Trican seems to be switching one frac unit a year from diesel powered to natty powered. Must be a brillant financial payback on that.
Having diesel expensive right now is exactly what these greenie governments want.
Diesel is way higher emissions compared to other fuels like natty.
Even countries like Nigeria are buying compressed natural gas run buses as they cant afford to import diesel on world markets.
Next 30 days the price of natural gas could be most interesting I have ever seen. I expect even to see 5% plus daily price voliltiy.