Nat Gas Market Continues to Stay Irrational
February 17, 2020
As per the EIA natural gas storage report last week, U.S. inventory has a four-week simple moving average (SMA) surplus of 215 bcf versus the five-year average and the SMA four-week Henry Hub NYMEX benchmark is $1.90/mmbtu over the period. The last time the four-week SMA showed a similar a surplus versus the five-year average was June of 2017. The benchmark SMA for that four-week period was $2.98/mmbtu.