Whether the natural gas market is “proactive or reactive” today doesn’t matter much in the grand scheme of things, according to Bentek Energy’s Jack Weixel. Like the chicken or the egg metaphor, asking which came first, gross gas production or dry gas production is irrelevant when considering that today output is 20 Bcf/d higher than in 2006.
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Gas Glut Didn’t Appear Overnight, Won’t Disappear Tomorrow, Says Bentek Exec
Whether the natural gas market is “proactive or reactive” today doesn’t matter much in the grand scheme of things, according to Bentek Energy’s Jack Weixel. Like the chicken or the egg metaphor, asking which came first, gross gas production or dry gas production is irrelevant when considering that today output is 20 Bcf/d higher than in 2006. The real question is how will the market adapt, or rather, what’s the market going to do with all the production?
Last Week’s 223 Bcf Storage Withdrawal Fails to Unleash the Bulls
Despite digesting their third consecutive 200 Bcf-plus natural gas storage withdrawal, March natural gas futures traders on Thursday morning were not in a reactive mood. After trading between $7.550 and $7.750, the prompt month ended up closing at $7.727, up 8.1 cents on the day.