US NG prices have fallen to below $6 per MCF and are IMO looking really sick.
This is despite high oil prices and continued injections that are less than last year.
The weather hasn't cooperated and may be the reason for the poor performance. Will it change this week?
Several interesting things that make it seem like NG is undervalued is the price of spot electricity was way up in several areas over the past couple of days, the power generation NG figures from Robry825's model are also way up, and his revised estimate for the week is way down (to an injection 77BCF...)
Guess we will have to wait and see how it all plays out.
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