Again, like so often, it's time to take a look at what's happening with natural gas storage this week. Looking good, though perhaps it depends on who you are. Storage levels are back in the vicintity of three of the last four years. Only 2008 in recent history was significantly lower than the current level at this time of the year.
What does this really mean? Well, it means an okay year for the oil and gas industry in the US, but nothing phenomenal. I expect the general economy to stay weak since pretty much every meaningful metric shows softness. More on that later? Probably.