Commodity Market Report
North America gas markets weekly update: November contract reaches $3.12
Report summary
We are expecting injections of 99 bcf, 97 bcf and 89 bcf for the next three EIA storage reports through October 12. The storage deficit to the five year average has expanded to the widest margin yet this year(621 bcf). We expect between 3,180 bcf and 3,280 bcf in inventories when withdrawals start. While many underestimated demand growth in the last year, production growth continues. If the weather stays mild in November the storage deficit can shrink rapidly.
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