RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Redfrom NGW
Mid-Day Update: Nat gas prices are again sharply lower today as strong bearish weather headwinds continue. The latest weather data continues to stream in and so far our going forecast is on track with no big surprises. After much warmer temperatures the next several days, additional cooler Canadian weather systems will track through the northern and eastern US over the next 10-14 days. The first will sweep across the north-central US and into the Midwest Tuesdayand Wednesday with reinforcing cool blasts to follow for the eastern US late this weekend and again next week. The coming weather patterns are clearly bearish and this week's build will be little help as it is likely to come in showing the greatest weekly build on deficits this year. The next opportunity for high pressure to build back into the northern and eastern US will be after August 3rd. Until then, expect big market players to see nothing but bearish headwinds and will look to sell rallies. Prices have dropped considerably and at some point soon will be due for some sort of a minor corrective bounce.