by Richard Finger
“There is a glut of natural gas. Everybody knows that. There’s so much of the latest multi stage hydraulic fracturing going on from New York State
to Texas and all places in between, prices will be low forever. But just as a full watering hole can deplete quickly the current gas storage glut can recede.
In fact it already has been and at an alarmingly brisk pace and there may be a confluence of other events which could hasten the process. Consider
this. The weekly EIA natural gas storage numbers reported each Thursday came in with a 28 billion cubic feet (bcf) injection. The inventory
increase last year at this time was 67 bcf while the five year average accretion was 74 bcf. So true that one week does not a trend make. But this
makes eleven straight weeks that have experienced below average storage injections. After Thursday’s numbers were released…
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