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Penn West Petroleum Ltd. Message Board

  • mrpev mrpev Aug 28, 2014 10:51 AM Flag

    NG weekly 8/22: +75 bcf

    We finally got in 70s, below all recent week above 80.
    Stocks stood at 2.63 tcf.

    The gap continues narrowing, currently 490 bcf and 518 bcf, or 15.7% and 16.5% lower than last year and 5-year average respectively.

    Still the decent cushion supports NG prices. Futures spiked shortly as high as $4.1 after the report released, currently stood at $4.05, up 5 c.
    Btw yesterday's close at $4.0 was for the 1st time since mid July.
    We'll see if above 4 would hold. If it would, there would be a good chance for rising to 4.2 and 4.3 in the next 2-3 weeks. A lot will depend on inventories so.

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