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@Zalotie 7 months ago

Natural gas futures holding near $2.86, storage surplus still high

Natural gas futures holding near $2.86, storage surplus still high

Natural gas futures swung a bit last week but closed around $2.86. The sub-$3 level seems to be the support zone while there's still some cold weather in the forecast. Storage numbers were weak though. We only saw a 52 Bcf withdrawal against a 168 Bcf average. Inventories are sitting about 8% higher than this time last year. With production averaging 109 Bcf per day, it looks hard for prices to sustain a rally into spring. The article mentions focusing on gas-heavy stocks like Comstock Resources, EQT Corp, and Antero Resources if you're looking for exposure. General sentiment seems cautious for the medium term due to the supply overhang.
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