Commodity Market Report
North America gas weekly update: Storage surplus expands in weeks ahead
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Report summary
Winter withdrawal season has finished with the week ending 31 March. As we enter April, the lack of lingering spring chill will allow for higher-than-normal injections. As a result, the storage surplus will start to once again expand and reinvigorate worries about summer storage containment. Notable North American gas markets fundamentals this week include: • No discernible signs of US gas production slowdown due to low gas prices • Record US LNG feedgas levels with a full return at Freeport • Summer LNG utilization risks at Freeport, Calcasieu Pass and Sabine Pass
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