RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Cold snap painNat gas traders default position is always "excess supply" , with the milder fall season and the overweight bullish positions , it was an opportunity the big players lept on . While it sucks in the short term , I see it as more time where production will decline . The longer without any serious drilling , the longer it will take to catch back up .
With healthy LNG exports and even sustained medium demand this winter , you will see larger than expected withdrawls all winter and if winter lingers the magic 1.2 tcf level might be breached . Last summer was an eye opener with resilient demand , sooner or later this discrepancy (if I'm reading it right) will be exposed . We'll see where "sentiment" is after we get through the holidays and whether old man winter decides to make his presents known .