Just because I am a little fuzzy and have a poor memory, what was ACIs price on June 30th of 2013? What is it right now? What percent increase is that? How does it compare with the S&P, Dow, a CD, other % gain or loss in the same period?
The storage numbers don't come out this week until Friday (due to MLK day this past Monday). Withdrawals should not be bad (around 100B) because the reporting week was rather mild. That said, next week will be a doozy. Given the widespread cold I am expecting another draw in the 280+ area. Couple that with expected cold now to last at least through the end of February, we will be in a world of hurt with low inventory at the end of the draw season.
NG prices will have to move up and stay high in order to destroy demand next summer - which will allow the inventories to refill back to 2.85 Tcf by next October.
The forward NG strip still is not responding to the cold. Accordingly, I don't see a quick response by E&P companies in stepping up drilling.
My visions tell me this summer will be scorching. Utilities that think they will get relief from high natural gas prices after this winter will be in for a big surprise and I will enjoy ACI selling them coal at high prices.