Commodity Market Report
North America gas weekly update: Lack of persistent cold pushes Henry Hub gas prices under $3.00/mmbtu
Report summary
Gas bulls had high hopes last week prior to the collapse this week, and with a milder forecast to mid-February, they're running out of time. Despite some of the largest weekly storage withdrawals this winter set to occur, Henry Hub prices have once again retreated to under $3.00/mmbtu as colder weather forecasts have reversed out to milder conditions. We expect 187 bcf, 250 bcf and 160 bcf of withdrawals from US Lower 48 working gas storage through February 8. With peak winter weather typically ending mid-February, gas bulls are running out of time.
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