Hi Trades,
Thanks,

Too early to tell, but Euro is holding on, so Dx may well be driven down - at least a bit.

Agree on Ng price response to Dx. I have been trying to keep an eye on that since Silverbear brought it up a couple of months ago. I have never been able to detect any correlation.

Ng may be out of the "ditch" for a while. Weekly injections have been declining each week for several weeks (didn't go back to the numbers) but even though supply still exceeds demand (normal for this time of year) it has been declining, indicating that the producers have either come to their "senses, paid the light bill for the year" and have finally succeeded in bringing production down !!! Some "tongue in cheek" here, it is clear, overall production is not a matter of turning a couple of valves !!!

Some additional thoughts on the NG market:

My next "Academic study" in the Ng market might be how the Large Power Gen. Utilities purchase their fuel and operate their inventory of plants.

I notice a number of "Extra" Nuclear plants are not operating at the moment. There has to be a trade off going on at the moment since the variable costs of Nuclear are almost nil. The real expense is in the "days elapsed in the operating license" which is fixed, whether the plant operates/generates power or not !!!!

It does seem that there are some short term trade offs being made since the Coal/Gas fuels all require forward purchases to some extent as well as scheduling and follow through on delivery commitments.

I have long been of the view that a Nuclear Plant operates full bore (100 % capacity) when ever it can. Now, I am not totally sure of that.

Thanks, Lee