RE:RE:RE:BULL - BEAR - RECESSION - DEPRESSION - COLLAPSE I was lead to belive NG and oil go there seperate ways. NG price seems to be based on domestic consumption and N.A.'s price is not related to anyhere else. A cold winter and hot summer both drive up NG prices due to supply condtraints. (lack of pipelines).
A recent article I read suggests NG and crude prices may get legs if Texas follows through closing down it's Permian Basin. It.s one of the US's largest NG and crude producing fields.
Just like the weekly Wednesday EIA oil repor there is one on Thursdays for NG. The after 1PM report is easy to read and contains gobs of good info for anyone interested.
Click on the link below. Link to the EIA oil report too, for any readers don't already have it. Oil report not as well written but lots of info.
My big concern would be leaning towards pipeline usage if or when the oil storage tops up. Oil Tanker and oil storage rates have doubled in the last month. I suppose fuel prices at the pumps will be the best indicator of when oil storage is nearing capacity. If the economy gets up and running before storage fills up, I think pipelines won't even notice a slowdown in usage at all, IMO.
I'm in from raking the yard and picking up deris left from the storms from this winter. Hope all of you readers can get outside for some exercise, sunshine and stop thinking about the markets for a least a day or 2. Lots of time for that during the week. Cheers
https://www.eia.gov/naturalgas/weekly/ https://www.eia.gov/petroleum/supply/weekly/