The speaker provides an update on market volatility since March 10th, detailing how their models initially indicated an oversupplied market in early March, which has since tightened significantly by late April. They highlight three key observations for clients: 4.0 TCF is the new neutral end-of-season inventory level due to increased LNG demand and static storage capacity, producers are acting as "synthetic storage" by curtailing production in response to price drops, and November is expected to be a highly volatile month as the market will struggle to balance without storage capacity if inventories reach tank tops or if an early winter necessitates immediate withdrawals.
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