Here is the natural gas report for the week. Stockpiles continue to increase, this week by 51Bcf, bringing the total to 3,258Bcf. This is 18.8% higher than at the same time last year.
Chart comparing the 5-year average with this year's storage:
The situation can only be described as... critical. Because we are again entering the fall shoulder season, stockpiles will likely have small increases in the remaining 2 or 3 weeks of the summer as some air conditioners are still on, then we expect bigger increases as there neither heating nor cooling occurs. That my fellow readers, is when the fun will start. We are still trending to overflow of all storage capacity in the US, most likely around October timeframe. We also continue to keep an eye on hurricanes and on the sister Gas.to which is already in overflow in Canada.
Today Gas.to dropped another 2.55%, while UNG only dropped 0.55%: