Commodity Market Report
North America gas short-term outlook: Is winter already over?
Report summary
The North American gas market’s winter typically starts in November and ends in March. Meanwhile, the meteorological winter begins 1 December and lasts through the end of February. Colder winter weather and its high heating load requirements result in storage withdrawal season where overall demand is much higher than supply. Seasonally, winter is also when gas prices are at their highest levels during the year. However, this year, a delayed start to winter cold and record US gas production are already starting to pressure previously elevated Henry Hub gas futures lower. Find out more about where North American gas markets are headed: • What is causing US gas production to “bump up” to record levels? • When can we expect new LNG projects to absorb more supply growth? • Where will storage be at the start of summer 2024?
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