Brian Earl Spilner said:
That was a weird candle on BOIL...
EIA storage numbers came out. There was a bigger weekly draw than expected and inventory is slightly above the 5 year average. Nat Gas storage levels are in a comfortable range, when Nat Gas was in rally mode the storage levels were below normal. We have record Nat Gas production so need shutdown of production or huge demand growth, otherwise this is normal. Even with a winter storm, I wouldn't expect a huge price spike because we are already well stocked and any sudden demand spike will be offset by record production.
Also Freeport LNG startup is unknown. Could be another month or two.