Market Commentary

Weekly Recap

April 14, 2014

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  • Lingering cold in the 6-10 day and 8-14 day forecasts allowed the market to maintain a bullish trend throughout the week
  • Winter is making another brief surge with forecasts of snow throughout the Midwest this week. Some areas are expected to get as much as 8-12 inches on Tuesday.
  • Thursday’s storage report brought news of the first injection of the year, a net increase to inventories of 4 BCF. Expectations ranged from withdrawals of 12 BCF to injections of 14 BCF.
  • Considering last week’s injection, it appears as though the withdrawal season has come to an end. Bottoming out at just over 800 BCF, we will need to inject almost 3 TCF this injection season to reach the five year pre-winter average.