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Split Decision – Storage up, price down, but the market is still conflicted. What did the RBN poll reveal about market expectations?
Thursday’s RBN post closed out with the prospect of bad news for gas price bulls if EIA storage came in with some number like +56 bcf when expectations were for +45. So the EIA build turned out to be one notch higher at +57 bcf. True to form, the CME/NYMEX May contract dropped like a rock. See the Updata Candlestick-Volume chart below that again tells the story.
