Commodity Market Report
North America gas weekly update: South Central storage injecting
Report summary
Weather giveth, weather taketh. After briefly rallying above $3/mmbtu, prompt month Henry Hub gas prices have since retreated on a moderated cold outlook to close out March. Weather is especially mild in the South Central region and likely will result in an injection to be reported at both salt and non-salt fields. This is a stark reminder that price downside persists if bullish weather is not present to override loose market conditions and prevent further storage surplus expansion. North American gas markets ask: • Is it too-little-too-late for March’s moderate chill? • When will Freeport LNG feedgas return to the equivalent of all three trains? • Is US gas production growth slowing down?
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