North America gas short-term outlook: Can Henry Hub prices withstand seasonal demand decline?
Demand is on the decline this month, led by the seasonal fall off of power demand in summer’s wake. LNG feedgas requirements are lower too with Cove Point LNG undergoing a total outage for over three weeks due to its planned annual maintenance. Fall weekly storage injections, as a result, are ramping up near triple digits and the storage deficit contraction versus the five-year average due to record summer power demand will soon halt. Along with it, will Henry Hub gas prices collapse until the first cold shot of the winter? Find out more about where North American gas markets are headed: • How high will US L48 working gas storage climb before entering winter 2023/24? • What is the outlook for Permian production? • Is winter power demand expected to grow year-over-year?