Commodity Market Report
North America gas markets weekly update: Warm end to January stifles rally
Report summary
The storage withdrawal this week will be around 269 bcf. Over the past 15 years the average draw during the third week of January is only 163 bcf. The largest draw during that period was a 245 bcf report back in 2010. By any measure this will be a large withdrawal. However, demand has dropped off rapidly over the weekend. Production has increased at the same time that Sabine exports and HDDs have fallen dramatically. Next week's storage report is going to be a big reversal from recent weeks
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