Commodity Market Report
North America gas weekly update: Earliest withdrawals in 14 years
Report summary
For the week ending 30 October, we forecast a US Lower 48 gas storage withdrawals of -28 bcf. • This would be the first weekly October storage withdrawal since 2006 and also the largest. • However, the early cold start to winter has lacked persistence. • A flip back to storage injections may be upcoming in the weeks ahead with a shift to much more milder than normal weather. Despite tighter market fundamentals with LNG feed gas levels having surpassed the greater than 10 bcfd level, mother weather is king in the winter.
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