This has been one of the worst withdrawal seasons in recent history

GA907
2023-04-07

Other than oil and RBOB, pretty red week in the energy land. AECO strip is now below $2

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I will be extremely happy if we consolidate around this area for the remainder of 2023. $WTI Crude Oil - main 2305(CLmain)$ $E-mini Crude Oil - main 2305(QMmain)$ $Micro WTI Crude Oil - main 2305(MCLmain)$

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And with that, natty withdrawal season is officially over. With 23Bcf withdrawal, Nat gas in storage is 19.5% above 5yr average and 32% above last year. This has been one of the worst withdrawal seasons in recent history.

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On Mar 30, another disappointing withdrawal for natty. With 47Bcf withdrawal, Nat gas in storage is 21% above 5yr average and 31.3% above last year. Southcentral is ~41.5% above 5yr average. Y/Y production up ~7% -$1 handle here we come.

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