Commodity Market Report
North America gas weekly update: colder but not for longer
Report summary
Early November chills are stoking national heating demand higher than at the same point last year. Add about 3 bcfd of LNG feed gas growth year-over-year and potential production freeze-offs. Oh, and a bullish EIA report last Thursday. So why is Henry Hub sliding? Blame it on the weather man. The 15-day forecast has this cold largely moderating, and zealous injections have given the market an approximately 500 bcf gas storage cushion year-over-year entering into this winter. It’s going to take more than a temporary cold front to push prices up.
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