Natural Gas Corner - Seasonal Price Trend Update

It is interesting to see the natural gas market close lower over two consecutive weeks in the face of record high power generator demand.  The past weekly 10 storage injections have also fallen under the 5-year average.

But as referenced here before many times, storage at some point will matter.  And U.S. storage is on track for a second year in a row to reach a new all-time high surpassing last year's record 4,009 Bcf.

A summer price high may have been set in early-July.  Once a high does form, the seasonal trend over the past 3 and 5 years favors lower prices once summer cooling demand eases.