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InvestLargeCon Nov 28, 2017 4:16am
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"Going into the winter with lower NG stocks than in 2013"
"Going into the winter with lower NG stocks than in 2013" Andrew Hecht
Going into the winter with lower stocks than in 2013
In 2013, stocks peaked at 3.834 tcf, slightly above the level this year. A cold winter caused significant demand for heating during the 2014 season and stocks dropped to lows of only 824 bcf at the end of March. That year, the price of the energy commodity exploded to the upside.
Source: CQG
As the weekly chart shows, the low level of stocks and cold conditions caused the price of nearby NYMEX natural gas futures to rise from a low of $3.379 in early November, to highs of $6.493 per MMBtu in late February, a rise of over 92% because of the supply and demand fundamentals. "