Next week injection should also be >115B (mostly around 120B) according to EIA supply/demand compared to that of last week, rig +1. Next 10 days weather will be mild, very suitable for refill next 2 weeks.
The refill speed really depends on the weather from end of June to July, last year, the refill during this period is: June 28th-> 72B, July 5th->82B, July 12th->58B, July 19th->41B, July 26th->59B, The Average of the 5 weeks of last year is: 62.4B, if this year the average of refill in the period > 90B, the NG price definitely will come down.
I think June price will probably still wave between $4.3 - $4.8. Don't hold too many short positions over weekend, MM seems always pull up NG price Monday.
EPA has little affect for NG price short term (1-2 years).
The refill speed really depends on the weather from end of June to July, last year, the refill during this period is: June 28th-> 72B, July 5th->82B, July 12th->58B, July 19th->41B, July 26th->59B, The Average of the 5 weeks of last year is: 62.4B, if this year the average of refill in the period > 90B, the NG price definitely will come down.
I think June price will probably still wave between $4.3 - $4.8. Don't hold too many short positions over weekend, MM seems always pull up NG price Monday.
EPA has little affect for NG price short term (1-2 years).
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