Commodity Market Report
North America gas weekly update: Lower than expected storage withdrawals
Report summary
No cold turkey leftover from the Thanksgiving holiday this year. After significantly colder than normal weather, a quick moderation of temperatures is warming up major gas consuming regions. Along with it, weekly storage withdrawals are realizing lower than expected. Yet, Henry Hub gas prices continue to rally higher well above $7/mmbtu. Absent persistent cold, the North America gas markets are asking: • Will Freeport LNG restart in mid-December? • Will Northeast production seasonally increase? • Can Canadian imports continue to ramp up further as needed?
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