North America gas weekly update: Keeping pace?

Storage withdrawals are entering the -200 bcf level as colder weather continues. It doesn’t help that US gas production isn’t keeping pace with record US net LNG exports. With the cold weather focused in major gas consuming regions in the Midwest and East, storage withdrawals are expected to stay elevated and even increase toward the end of the month. Will the cold weather continue into February and keep drawing down storage levels? Last February saw some hefty withdrawals especially during Winter Storm Uri. The week ending 19 February 2021 reported the second largest weekly withdrawal ever of -338 bcf. That likely won’t realize this February, but if we get near those levels, Henry Hub gas prices may stay higher for longer.