From EIA:
Working gas in storage was 3,821 Bcf as of Friday, October 29, 2010, according to EIA estimates. This represents a net increase of 67 Bcf from the previous week. Stocks were 37 Bcf higher than last year at this time and 353 Bcf above the 5-year average of 3,468 Bcf.
Bottom line: Seems to always be near the upper band of the range, doesn't it. There is no relief in sight for natural gas. All the shale drilling only adds to the problem as the initial production rates (unless significantly curtailed) are massive. Continue to see no reason to be long this market, even at these low prices.
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