Commodity Market Report
North America gas weekly update: Henry Hub prices firm up as storage levels decline further
Report summary
Extreme cold this late in winter had Henry Hub cash prices spiking above $4/mmbtu yesterday, although a warmer short-term forecast limited prompt April and forward price impacts. Once again, colder weather refuses to be persistent, but still, storage withdrawal estimates look to bring end of season working gas storage down to the lowest level since the polar vortex of winter 2013/2014. Not surprisingly, the summer strip is holding firm, as markets face a tougher uphill battle to bring storage back to "comfortable" levels.
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