Natural Gas Storage in Overflow: Last Year's Decline vs This Year Increase

UNG was up 6.25% today. HNU.to was up 15.75%. Apparently on news of cold weather.

There can be the coldest weather in history and there will be enough gas for years to come. Anyone who believes that should take a look at the latest storage charts comparing 2008 and 2009 values:



Note that by this time last year there had been a few weeks of storage decline, while in 2009, we continue to climb. The latest figure was +2Bcf, same "increase" as last week. Since the storage is technically full, these 2Bcf may just be natural leaks!

With UNG up the way it was, opportunity abounds here, as always straddles offer the best chances whether gas goes up or down.

Please do your own due dilligence.