Commodity Market Report
North America gas weekly update: Storage surplus expands in weeks ahead
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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