North America gas weekly update: Quick return of mild weather deflates Henry Hub

The week ending 3 November encountered anomalous cold. With colder temperatures blanketing much of nation, early season winter withdrawals occurred even if small volumetrically. We have entered that time of the year when we switch over from storage injections to withdrawals. Scheduling might also be serviced from linepack rather than actual physical injections or withdrawals. For this reason, a higher margin of error exists for our weekly storage estimates. The task becomes harder next week as a quick return to mild weather results in a switch back to injection mode and no benchmarking to the weekly EIA gas storage report is available. This weekly natural gas commodity report seeks to explore: • What is driving record US gas production? • How low will heating degree days fall in coming weeks? • When will withdrawals start in earnest?