Commodity Market Report
North America gas weekly update: One more withdrawal
Report summary
Astronomically or meteorologically, its spring. After last week’s storage withdrawal expected at -65 bcf, US natural gas storage should flip into injections for the current week in progress. However, one last withdrawal may be in the cards for the week ending 1 April. Henry Hub gas prices are rallying with the delayed injection season due to lingering colder conditions. But eventually storage injections are set to arrive as overall demand levels seasonally fall off even further. If signs of US gas production rebounding even higher arise, prices may lose steam fast.
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