North America gas weekly update: Is winter over already?

Despite the recent Henry slump, the winter isn’t over yet. Yes, longer range forecasts are calling for persistent mild weather and November is setting up to be the fourth warmest ever, but we still have a peak winter to go, and market fundamentals remain very supportive. • Production is unlikely to showcase a “winter bump”, as associated gas is no longer growing and producers exercise capital discipline. • Feed gas for LNG terminals continues to ramp up to record highs, and global gas prices remain supportive of exports. Of course, weather is always king, though, especially in the winter.