Natural Gas Market Should Be Panicking, But Whatever - Bloomberg:
With Labor Day looming, it’s obviously time to start thinking about winter. Obvious, that is, if you follow that battered, crushed, flayed corner of the energy market called U.S. natural gas.
America is awash in the stuff. Production will jump 10 percent this year, according to the Department of Energy, hitting a new record — just ahead of probably hitting another one in 2019. Export terminals can’t be built fast enough. This isn’t helpful for the dogged, if shrunken, cohort of gas bulls still out there.
What is helpful, though, is that, for all the gas coming out of the ground, there’s a surprising shortage of it underneath — in storage.
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