The Energy Information Administration released their weekly report Thursday.
Natural Gas storage is still holding up in the USA.
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The data suggests we have "weathered" the recent cold spell.
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Looking across the pond, the German storage is currently holding at 90%. Germany has reduced Natural Gas consumption by a whopping -38% over the 2018~2021 average. As the storage across Europe has peaked and holding steady, the urgency for more Natural Gas has eased. It has also been a very warm winter.
With that easement, the price of Natural Gas across major trading markets has also eased.
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While everything appears all rosy and nice, a lot depends on weather, and not just this winter, but preparation for next winter.
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