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Daily Commentaries

Today's Daily Commentary

Friday, May 29, 2020
Turning The Corner: EIA Reports Bearish +109 BCF Natural Gas Storage Injection, But Supply/Demand Imbalance Now Appears To Be Tightening Back Up On Production Drop & Strong Powerburn; Oil Prices Rally After Big Inventory Build As Imports Surge Above Pre-COVID Levels



Daily Commentaries For The Last 30 Days:

Thursday, May 28, 2020
Natural Gas Pulls Back Even As Powerburn Reaches New Seasonal High & LNG Exports Gain While Oil Drops Sharply As Russia Ponders Relaxing Production Curbs Next Month; In Twin Reports Today, EIA Projected To Announce Slightly Bearish Natural Gas Storage Injection And Big Crude Oil Build As Inventories Near All-Time High; Gas Demand To Hold Steady Today On Warming South But Cooling Northeast


Wednesday, May 27, 2020
Natural Gas Jumps On Rising Powerburn & Exports While Oil Rebound Moves Full Steam Ahead; Natural Gas Rally Has Legs, But Needs Help This Summer; Gas Demand To Hold Steady Today As South Warms, But Toasty Great Lakes & Northeast Moderate; LNG Export Demand Continue To Recover As Week-Over-Week Gains Top 1 BCF/Day


Tuesday, May 26, 2020
The Good, The Bad And The...Meh: Natural Gas Whipsaws As Multiple Bullish & Bearish Catalysts Face Off Heading Into High Stakes Summer Cooling Season; Gas Demand To Dip Today As Chilly Conditions Across The South Counter Summer-Like Heat Across The Northeast & West


Friday, May 22, 2020
Natural Gas Slumps On Weak LNG Outlook After EIA Reports Slightly Bullish +81 BCF Storage Injection & Confirms Sharp Drop In Production; Gas Demand To Dip Today As Slow-Moving Storm System Finally Clears Out; Weekly Storage Injections Slightly Bearish Versus The 5-Year Average, But Slightly Bullish Year-Over-Year Expected Each Of The Next Two Weeks


Thursday, May 21, 2020
Natural Gas Erases Early Gains While Oil Surges To 10-Week High After EIA Reports Largest Storage Withdrawal Of 2020; It's Crunch Time For Natural Gas; EIA Projected To Announce +83 BCF Withdrawal Today, But Investors Are Eyeing A Smaller-Than-Expected Build To Catalyze A Move Higher; Gas Demand To Dip Slightly Today As Slow-Moving Storm System Slowly Spins Down


Wednesday, May 20, 2020
Natural Gas Rallies For A Second Day As Production Continues To Fall, Though Weak LNG Exports & Soft Temperature Outlook Act As A Break On A More Substantial Price Spike; EIA Expected To Announce Very Bullish Storage Drawdown--But Has Oil Rallied Too Fast For It To Matter? Gas Demand To Inch Higher Today On Falling Production As Stormy Weather Pattern Remains Unchanged


Tuesday, May 19, 2020
Natural Gas Soars To Third Best May Day On Record As Production Resumes Slide As Supply/Demand Imbalance Begins To Tighten; EIA Reports April Drilling & Well-Completions Fall To 3+ Year Low; Gas Demand To Rise Slightly Today Even As LNG Feedgas Demand Fades Towards 2020 Low


Monday, May 18, 2020
Oversold & Undervalued Natural Gas Set To Bounce As Production Drops, But Meaningful Rally Will Require Demand Recovery; Transition From Shoulder To Cooling Season To Begin This Week As Temperatures Warm; Drilling Activity Continues To Drop, Even As Oil Rallies; Tropical Storm Arthur Forms Early Off The Carolinas, But Impact Will Be Limited


Friday, May 15, 2020
Natural Gas Rallies (Sort Of) after EIA Reports Smaller-Than-Expected Storage Injection, But Inventories Will Remain Bearish Until Supply/Demand Tightens; The Bull Isn't Dead, Just Hibernating: What It Will Take For Natural Gas To Turn The Corner, And When; Gas Demand To Fall To 2020 Low Today As May-Like Temperatures Finally Overspread Lower 48


Thursday, May 14, 2020
EIA Stuns With First Crude Oil Inventory Drawdown Since January, But Oil Still Finishes In The Red; Natural Gas Investors Abandon Long-Term Bullish Outlook For Near-Term Bearishness As Prices Tumble Towards 25-Year Low; EIA Projected To Announce Second Straight Bearish Injection Inn Today's Storage Report; Gas Demand To Fall Sharply Today As Temperatures Rapidly Moderate


Wednesday, May 13, 2020
Natural Gas Sells Off To A 5-Week Low, Bringing 1-Week Loss To -19% As Demand Losses Continue To Overwhelm Production Declines; Oil Resumes Rally Ahead Of Another Bearish EIA Inventory Build--But Potential Cushing Draw--Today; Gas Demand To Begin Steady Decline Today As Temperatures Finally Moderate


Tuesday, May 12, 2020
Welcome To The Shoulder Season: Volatility Set To Decline As Natural Gas Fades On Moderating Temperature Outlook; Brutal Rollover For Leveraged Gas ETFs Now Underway; Natural Gas Demand To Hold Nearly Steady Today As Unseasonably Chilly Temperatures Remain In Place For One More Day


Monday, May 11, 2020
Natural Gas Sub-$2.00/MMMBTU Streak, But Then Sells Off For Weekly Loss As Waning Heating Demand, Soft LNG, Stabilizing Production, & Profit-Taking All Weigh; Nonetheless, Natural Gas Investors Continue To Pivot Away From Short Positions As Buying Accelerates; Bullish Daily Storage Withdrawal Expected Today As Unseasonably Chilly Temperatures Persist


Friday, May 8, 2020
Natural Gas Retreats After The EIA Reports Larger-Than-Expected Triple-Digit Storage Injection, Even As Production Falls Sharply; Investors Wait Nervously For Supply/Demand Imbalance To Tighten--And Will Keep Prices In Check Until Then; Gas Demand To Jump Today As Record Cold Overspreads The East, As Well As The Threat Of May Snow


Thursday, May 7, 2020
Natural Gas Pulls Back Sharply On Profit-Taking After Pipeline Explosion & Ongoing Concerns Over LNG Demand; Oil Snaps 5-Session Winning Streak But Finishes Off The Lows After Smaller-Than-Expected Inventory Build As Demand Recovers; EIA May Announce The First Triple Digit Natural Gas Storage Injection Of 2020 Today


Wednesday, May 6, 2020
The Streak Is Over! Natural Gas Settles Above $2.00/MMBTU For the First Time Since January 20 After Major Pipeline Explosion--But Some Consolidation Is Now Likely; LNG Exports, Or The Lack Thereof, A Growing Thorn In The Bullish Narrative's Side; Crude Oil Inventories Could Reach All-Time Highs In Today's Petroleum Status Report, Even As a Smaller Build Is Expected


Tuesday, May 5, 2020
Natural Gas & Oil Both Soar On Production Declines & Cold Temperatures; European Natural Gas Inventories On An Unsustainable Trajectory; Gas Demand To Rise Again Today As Unseasonably Cool Temperatures Expand Across The East


Monday, May 4, 2020
Natural Gas Fell Last Week As Demand Losses Weigh on Sentiment, But Accelerating Production Declines & Favorable Temperature Outlook Drive The Bullish Narrative As The Commodity Approaches An Inflection Point; Storage Surplus Versus The 5-Year Average May Have Peaked Over The Weekend As Gas Demand Will Rise Sharply Today & This Week As Much Colder Temperatures Overspread The Northeast


Friday, May 1, 2020
Natural Gas Rallies After Neutral EIA Storage Report On Production Optimism, Despite Another Spike In Oil; Gas Output Continues To Drop While Demand Shows Signs Of Bottoming, But Higher Oil Prices Could Dull Impending Bull Market; Natural Gas Demand To Dip Today On Mild East & Cool South With Bearish Weekly Injection Likely


Thursday, April 30, 2020
Oil Prices Surge After Smaller-Than-Expected EIA-Reported Inventory Build--But It's Not Clear Sailing Yet; Gas Prices Falter Again As Anxious Investors Await Production Drop & Demand Rebound; EIA Projected To Announce Neutral +70 BCF Storage Injection In Today's Report; LNG Feedgas Demand Stuck Near 2020 Lows


Wednesday, April 29, 2020
Natural Gas Edges Higher On Favorable May Temperature Outlook As June Contract Becomes the Front-Month, But Production Needs To Fall In May To Drive Sustainable Gains; Crude Oil Inventories To Near All-Time Record Today, But Smaller Expected Build Could Help Establish A Bottom For WTI; Gas Demand To Inch Lower Today On Milder East Temps & Cool South


Tuesday, April 28, 2020
Natural Gas Reverses Higher On Cold Early May Temperature Outlook & Expectation For Associated Gas Decline While Oil Opens The Week Sharply Lower & Doesn't Recover; Gas Demand To Fall Slightly Today As Unseasonable Chill Across The Northeast Relaxes; LNG Feedgas Demand On Pace For 2020 Weekly Low


Monday, April 27, 2020
Patience Is A Virtue: Natural Gas Bull Market Is Coming, But Some Near-Term Weakness Is Possible Before Production Slides & Demand Recovers; Oil & Natural Gas Rig Count Collapse Continues With All-Time Lows Imminent; More Traders Are Now Long Natural Gas Than Short; Cold North & Hot Southwest To Support Gas Demand Today With Slightly Bullish Build


Friday, April 24, 2020
Natural Gas Slides After Near-Term Temperature Moderates & In The Wake Of Neutral EIA-Reported Storage Injection; Supply/Demand Imbalance Loosens, But Expect This To Reverse Soon As Production Decline Accelerates; Oil Rebounds On Geopolitical Tension & Storage Optimism; Gas Demand To Fall Today, But Heatwave Builds Across The Southwest


Thursday, April 23, 2020
Natural Gas Recovers Tuesday's Losses In Volatile Trading As Investors Overlook Near-Term Bearishness For Very Bullish Summer Set-Up; Oil Rebounds Sharply Despite Another Huge EIA-Reported Storage Build; EIA Expected To Announce; Slightly Bullish +45 BCF Natural Gas Inventory Build Expected In Today's EIA Storage Report


Wednesday, April 22, 2020
Oil Crashes Again (But Also Records Its Best Single-Session On Record) While Natural Gas Gives Up Monday's Gains; The Path Is Still Higher For Natural Gas--But It Will Be A Choppy, Volatile Ride; EIA Expected To Announce Another Massive, Bearish Crude Oil Storage Build In Today's Status Report; Gas Demand To Rise Today On Northeast Cooldown With YoY Surplus Projected To Fall Below +800 BCF For The First Time In 6 Weeks


Tuesday, April 21, 2020
Oil Makes History In Record Crash As Storage Crisis Looms; Natural Gas Jumps 10% As Bullish Narrative Gains Steam In What Could Be The Best-Up In 13 Years; Gas Demand To Rise Today As Quick-Hitting Shot Of Colder Air Advances Across The Great Lakes


Monday, April 20, 2020
Natural Gas Soars Into Week's End While Oil Craters As Storage Concerns Mount; Oil's Losses Are Natty's Gains: Rig Count Plunge Continues While Gas Production Appears To Resume Decline; Natural Gas Demand Falls Through The Weekend As Temperatures Moderate, But Another Bullish Year-Over-Year Injection Is Likely


Friday, April 17, 2020
Natural Gas Reverses Early Losses To Soar Into The Close Despite Bearish EIA-Reported Storage Injection; Supply/Demand Imbalance Loosens As Demand Losses Outpace Supply Losses, But This Is Only Temporary; Bullish Natural Gas Storage Injection Projected This Week--But Not As Bullish As Some Might Expect


Thursday, April 16, 2020
EIA Reports Record-Setting Crude Oil Inventory Build As Summer Projections Rise Dangerously Towards Estimated Working Capacity; Natural Gas Nears 25-Year Low Again On Mild Late-April Outlook & Demand Destruction--But Be Patient, The Bull Market Will Come; Bearish, But Highly Uncertain, Injection Projected For Today's Report


Wednesday, April 15, 2020
Oil & Natural Gas Both Sink On Demand Concerns While Commodity ETFs Face Brutal Monthly Rollover; EIA Expected To Announce Third Straight Double Digit Crude Oil Inventory Build In Today's Status Report; Natural Gas Demand Likely To Peak For The Month Of April Today With A Very Bullish -4 BCF/d Daily Storage Withdrawal Amidst Unseasonably Cold Nationwide Temperatures