North America gas weekly update: Triple D up ahead the road

Triple digit injections are on their way. Production is strengthening and Canadian imports are higher, negating the increased demand from the resumption of higher feed gas deliveries to LNG terminals. The supply-demand balance remains loose, and the record warmth helps inject more gas into storage. Markets are noticing. May 2019 prompt Henry Hub prices are sliding, and the summer curve is searching for a floor, helped along by a fixation on robust production growth and lower power demand growth—which may overlook structural changes in the power stack and greater coal displacement.