Commodity Market Report
North America gas markets weekly update: Winter strip down 18% in 5 days
Report summary
Inventories are still at 15 year lows, but warm weather in December will help to bring inventories close to the 10 year lows before the new year. Heating degree days now need to be in the top 40% of winter weeks in order to produce above normal withdrawals. This is a headwind against gas price increases. With every new run of the GFS there is another chance the gas market will rally, but peak winter is usually around January 12. Afterwards it takes more unusual weather to cause a rally.
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