North America gas weekly update: Arctic Christmas cold brings early gift to bulls

Weather can be fickle and is king in the winter. After a mild start to December, an arctic cold front is set to blanket most of the US as we enter Christmas week. The impact of spiking heating loads will be amplified if concurrent production freeze-offs occur. The storage deficit versus the five-year average over the next two weeks is set to decrease and even briefly flip to a surplus. However, outsized storage withdrawals thereafter will quickly result in larger deficits. Read the weekly natural gas commodity market report to answer the following questions: • How much colder will it get and will it last? • Where could production freeze-offs occur? • Will Freeport LNG restart at yearend?