We watch the production numbers as total supply can be adjusted by use of imports.
Demand numbers are so closely tied to heating or cooling degree days that those number are more useful.
...
| U.S. Natural Gas Supply - Gas Week: (9/4/13 - 9/11/13) | ||
|---|---|---|
Percent change for week compared with:
|
||
last year
|
last week
|
|
| Gross Production |
2.81%
|
-0.77%
|
| Dry Production |
2.78%
|
-0.76%
|
| Canadian Imports |
-1.48%
|
2.33%
|
| West (Net) |
11.22%
|
-0.62%
|
| MidWest (Net) |
12.61%
|
7.14%
|
| Northeast (Net) |
-93.02%
|
-9.12%
|
| LNG Imports |
-33.94%
|
-30.18%
|
| Total Supply |
2.21%
|
-0.70%
|
| Source: BENTEK Energy LLC | ||
.....
| U.S. Consumption - Gas Week: (9/4/13 - 9/11/13) | ||
|---|---|---|
Percent change for week compared with:
|
||
last year
|
last week
|
|
| U.S. Consumption |
-1.00%
|
1.10%
|
| Power |
-1.24%
|
-0.90%
|
| Industrial |
-0.09%
|
1.14%
|
| Residential/Commercial |
-1.83%
|
6.58%
|
| Total Demand |
-0.90%
|
0.91%
|
| Source: BENTEK Energy LLC | ||
...MORE
Any price between the current $3.6750 and the September 5th high is a fine place to sell with the caveat that we are expecting a failed second attempt to clear $3.72. If the action should break through there is no real resistance to the up move until prices hit the $3.81 from mid-July i.e. tight stops just above $3.72.
