Another day without much NYMEX activity or other updates to report. NYMEX futures prices creeped up, but only gained a few cents per contract by the end of the day. Reuters is expecting a withdrawal of -257 Bcf for tomorrow’s storage report, another monstrous number. As a reminder, last week’s withdrawal of -360 Bcf just barely beat out the previous all time high, -359 Bcf during a week in January 2018. With temperatures warming up across the Eastern portion of North America, we can expect these huge withdrawals to ease for now. Production in the US has recovered, and feed gas flows to the major LNG export facilities is back to record breaking highs, a good sign that the market is re-balancing itself.
