RE:RE:RE:RE:RE:COTMayorRobFord wrote: Well below storage last year still, but over 6% in production also. Question is how much the storage counts vs. the production. No denying it has almost caught up to the 5 year minimum, looking at the storage graph, but does the price have to be this low also? For me the power lies with the weather nerds, and indirectly with the hedging. Too many unknown variables. Coal to gas has not been consistent and soon won't count anymore as summer ends. El Niño could bring a warmer north. The price could fluctuate like it's been last several weeks without a particular direction for months. I doubt this winter will bring the bottleneck situation like last year.
The bulls are in disarray and are overwealmed by the power of Marcellus production. If there is an early start to winter then fear of a repeat of last year will push the price back up. If there is a repeat of last year even with the additional production a 3.4/3.5 eos will not be enough and we will see even worse shortages. Still too early to do anything but wait and see.
Willl be intested to see Mezz's projections.
Cheers