LNG Gas Exports Surge But It's Still Not Enough

With winter heating demand coming to an end, the US gas market is entering the injection season at one of the highest storage levels in years. In our view, the bear case on natural gas can be summarized in one chart:

With the South Central gas storage sitting at ~921 Bcf vs the 5-year average of 787 Bcf, the market will keep natural gas prices under pres…