RE:Huge heat waves all over the world!Too much US dry gas production - took them way too long to reduce drilling. The YoY growth seems to have ceased now - I follow Rich Asplund @ barchart.com who gives a daily rundown of US natural gas production. Otherwise, still growing ex weather, plus hot weather is helping (...) Plus LNG is up YoY.
The 12 month strip was at $3.10ish yesterday, too low to hedge and below Haynesville cost.
Lots of BOIL shorts yesterday ie trying to hold natgas down which is in fact a bullish signal.
Amateur opinions, YMMV, glta.