- Hopes for relief rally dashed by reported 49 Bcf withdrawal from storage, versus estimates for pull around 68 Bcf
- March Nymex contract down 2.6 cents to $1.583/MMBtu as of 2:22 p.m. ET; 2025 strip also under downward pressure
- A “ramp in renewable generation” plus supply changes “account for 2.4 Bcf/d of weather-normalized loosening” for latest storage sample period, according to Wood Mackenzie analyst Eric McGuire
- Lower 48 storage surplus to five-year average up 100 Bcf to 348 Bcf with latest print
- EQT Corp. management pushed back on oversupply concerns during 4Q2023 earnings call, suggested some estimates overstating production
- “If we had just had normal weather, the market would be balanced right now…this sort of overarching view that the market is just so out of balance…when you step back and cut through the noise, it’s really not the case”: EQT CFO Jeremy Knop
- Henry Hub day-ahead price steady at $1.515, up fractionally day/day, according to NGI’s Midday Price Alert
- In wake of Nor’easter, Northeast Regional Avg. down another 61.5 cents; moderate temps lined up for Boston, New York City, Philadelphia, according to Maxar
SoCal Citygate off 33.0 cents to $2.645, per Midday Price Alert, as Southern California Gas modeling net injections on system over next few days
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