Commodity Market Report
North America gas weekly update: Explosive
Report summary
• 58 bcf injection expected • East 21 bcf, Midwest 25 bcf, Mountain 5 bcf, Pacific 8 bcf, South Central -1 bcf • Salt storage withdraws -12 bcf It’s scorching hot, especially in Texas and the Midcontinent. Explosive, triple digit temperatures are stressing the power grid. Coincidental recent explosions at Freeport LNG, Old Ocean pipeline and Medford NGL fractionation facility are in Texas and Oklahoma. Despite persistently higher power burns and US gas production impacted by various maintenance and outage events, US gas storage injections continue to narrow the deficit. Henry Hub gas prices have exploded downward post Freeport LNG explosion. Does further price risk exist?
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