Commodity Market Report
North America gas short-term outlook: Storage surplus looms over injection season
Report summary
A very mild peak winter heating season has sent Henry Hub gas prices spiralling lower. Although higher-than-normal March storage withdrawals have prevented prices from falling below $2/mmbtu, the market will once again be under pressure entering shoulder season. Adequate price responses from both supply and demand will be needed to avoid storage containment this summer. As we enter spring, North American gas markets ask: • When will Freeport LNG resume full utilization after an erratic restart? • Will Haynesville production growth slow down? • Can gas burns remain elevated?
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