Commodity Market Report
North America gas weekly update: Ice, wind and fire
Report summary
With the week ending 23 October likely the last of the injection season, containment fears have been quashed, and downward pressure on prices has been removed. We’re entering into the tightest supply/demand balance the North American market has seen in the last five years, and expect prices to move up, especially if winter weather hits hard. • Ice: A cold front has swept the Rockies as far south as El Paso, starting freeze-offs. • Wind: Tropical Storm Zeta is projected to become a hurricane prior to landfall near New Orleans, shutting in Gulf of Mexico production and potentially disrupting LNG tanker traffic. • and Fire: California wildfires are causing power outages, and a fire at Freeport LNG has shut in a train.
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