North America gas weekly update: 99 Luftballons unlikely to set off market alarms

Prices may have halted their descent on warmer short-term weather forecasts and stronger LNG feed gas demand levels. Is there finally light at the end of the tunnel, or is this just a pause before the downward spiral in Henry Hub prices continues? This week's 99 bcf injection estimate would barely avoid being the eighth triple digit injection of the season but is still much higher than the five-year average and last year's injection. A little bit of sustained warm weather, higher power demand and exports could help normalize injections and allow Henry Hub to start its long awaited recovery.