Percentage of NG in storage is rapidly shrinking from last year, and the 5 year average. I was really thinking NG was going to end the season 500+ short of last years high of storage... I don't see it now. We'll have storage topped off again, and UPL will see the low 20's or high teens again.
just saying.... percentage shortfall will be ZERO by november. boo... totally thought 4 dollar NG would lower production but it's just not in the cards yet. UPL going lower into winter, and pray for a cold cold winter. Uninvestable until UPL is sub 20.
Actually we need 33 BCF above normal each weekly report to be at the 3,800 average storage before winter and I am not seeing this. I recently sold my UPL and took a big profit as I had started accumulating at $19 but now I am adding back. The short attack may not be over yet but it must end soon when the market understands just how low the storage is and how unlikely it will be to bring it back to normal levels before next winter. I see NG in the low $4 range for now but back to the high $4 range with a hot summer (which is probable).