Commodity Market Report
North America gas weekly update: Hot May
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Report summary
• 85 bcf injection expected • East 22 bcf, Midwest 22 bcf, Mountain 7 bcf, Pacific 4 bcf, South Central 30 bcf • Salt storage injects 10 bcf The trend of hotter summers continues. May CDDs are ramping up significantly above normal. A record setting hot May has stymied shoulder season injections to ramp up and for triple digit weekly storage injections to make their appearance. Haynesville and Permian growth engines are reviving up. However, maintenance outages from the offshore GoM up to the Northeast is not helping to meet the higher gas power burns. As shoulder season injections fail to reduce the storage deficit, Henry Hub gas prices continue to be elevated.
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