Thursday, August 20, 2009

Natural Gas Weekly Report Aug. 20: Situation Remains Dire, 2 Handle is Here

Natural gas inventories were released a few minutes ago, showing an increase of 52Bcf. There is no change here, the situation remains dire for the natural gas commodity. The following chart compares the storage last year and this year:

Current storage is 21.3% higher than last year, and 19.1% higher than the 5-year average.

The reason to avoid being short is only because of hurricanes.

As a result, natural gas futures now trade with a 2 handle, as referenced here months ago:

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