Commodity Market Report
North America gas weekly update: Hot, cool and hotter?
Report summary
Prices have one eye on the upcoming heat and one eye on the end of the winter 2021/22 season. Despite a cooler July, gas burns for power demand are proving unexpectedly resilient, and production, whether it be from maintenance/outages or capital discipline, isn’t responding as much to higher prices. Storage injections as a result are underperforming, building a scaffolding for a higher forward curve. Will this Thursday’s EIA report show yet another injection in the teens?
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