Thursday, January 25, 2007
Gas au Naturale
The EIA.. (old McDonald had a nat gas well, Ei,Ei,A) says 179 bln cubic feet of nat gas was pulled from underground storage... a little higher than the expected 173 bcf. Nat gas is about where it was before the report, down 3%. The next few weeks will likely show some even bigger deliveries because of the cold weather, but there's some much more of it than usual in storage this year, that it's no sweat from a supply standpoint. I am fully pre occupied with metals, but I'd probably take a hard look at shorting NG for a ride down to $7... maybe.