To The Moon

1.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. $Micro WTI Crude Oil - main 2305(MCLmain)$ $Light Crude Oil - main 2305(CLmain)$ Image Compare last week: With 72 Bcf withdrawal, Nat gas in storage is 22.7% above 5yr average and 36.1% above last year. Southcentral is ~45.5% above 5yr average. Y/Y production up ~9% -We probably test the $1 handle again soon. Image 2.WTI back retesting the breakdown zone of an ascending triangle, which currently acts as resistance. Piercing through it will be bullish. Image WTI needs to hold the $74 area or there is a high chance it goes below $70. A lot will depend on tmr's NFP numbers and how the market reacts, but as of now, futures look bad. Image not saying it will happen today or tomorrow, but whenever it happens (and if it happens), should be bullish going forward. 3.So far so good! WTI/Copper Image 4.CPI m/m % price change tends to closely follow gasoline and WTI m/m price changes. For the month of March U.S. All Grades Conventional Retail Gasoline Prices are about flat and WTI is down ~ 5%. Image 5.Natural Gas Supply and Pricing: Haynesville is out of control Image North American Natural Gas Storage Levels for the week ending March 24/23 US Natural Gas Storage is 21% above 5yr average with South Central at 42% above 5yr average. Canada's Natural Gas Storage is flat compared to 5y average. It was down ~15%, 5 weeks ago. Image https://twitter.com/Gugo907/status/1641448941215682560