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As Celsius Energy continues to grow, costs and the time commitment to keep the site maintained build rapidly. For this reason, I am offering premium features for a small monthly fee to help support the site. These include:
-Daily Commentaries, a 1000-1500 word 5x per week discussion of natural gas fundamentals, trading outlook and strategies
-Advanced weather modeling data
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-Daily natural gas supply & demand data
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Friday Daily Commentary For Subscribers
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Natural Gas Tumbles After EIA Storage Miss & Amidst Continued Supply Concerns, Even As LNG Exports Recovery & Summer Heat Beckons; Fundamental Undervaluations Widen As Commodity Approaches Price Floor; Gas Demand To Fall To Near-Term Lows This Weekend Before Sustained Heat Ramps Up Early Next Week
Friday, July 26, 2024
This Daily Commentary is available to current Premium Membership Subscribers. Subscribers gain access to these 1500-3000 word commentaries 5 times per week as well as access to my realtime Oil & Natural Gas Portfolio. To learn more about subscribing and helping to support the site, please click HERE.
In its weekly Natural Gas Storage Report for July 13-19, the EIA announced Thursday morning that inventories rose by +22 BCF. This was a slight 9 BCF bullish versus the 5-year average but came in 3 BCF above my +19 BCF projection (and further above the bulk of analyst guidance).
On a temperature-adjusted basis, the week’s report was considerably looser than the previous week, coming in at a neutral +0.1 BCF/day tight versus the 5-year average (was 2.6 BCF/day tight last week). This means that all but 0.7 BCF of the week’s 9 BCF bullishness was driven by temperature rather than underlying fundamentals. With the injection, natural gas inventories rose to 3231 BCF while the surplus versus the 5-year average narrowed to +456 BCF. The year-over-year surplus held nearly steady at +249 BCF. Storage levels remain at 5-year highs but are just 16 BCF above 2020 levels and could fall below that level by the first or second week of August. The South Central Region saw the only weekly wit...
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Disclaimer: Natural Gas & Oil Storage Projections, Intraday Natural Gas Stats, Renewable Energy Stats, Morning Reports, and fundamental pricing models are released by Celsius Energy as experimental products. While they are intended to provide accurate, up-to-date data, they should not be used alone in making investment decisions, or decisions of any kind. Celsius Energy does not make an express or implied warranty of any kind regarding the data information including, without limitation, any warranty of merchantability or fitness for a particular purpose or use. See full Privacy Policy HERE.
