Commodity Market Report
North America gas weekly update: Tiger awakens
Report summary
The tiger has awakened from its deep hibernation. January temperatures are starting off much colder even inducing significant US gas production freeze offs to temper it from its end of December record highs. Winter is far from over. Colder January weather is set to flip US L48 working gas storage back to a deficit versus the five-year average. Persistent colder weather may keep winter gas prices higher in the weeks ahead as: • heating demand roars higher, • freeze offs may continue to suppress production, • and exports recover higher
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