Commodity Market Report
North America gas weekly update: Triple digit heat
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Report summary
• 60 bcf injection expected • East 22 bcf, Midwest 22 bcf, Mountain 3 bcf, Pacific 9 bcf, South Central 4 bcf • Salt storage withdraws -10 bcf It's hot outside. Triple digit temperatures have been blanketing many major gas summing regions persistently. Power demand have shot up as a result more akin to peak summer levels. Some relief is in sight with more normal weather being forecast as we end out June. The loss of LNG feedgas demand from Freeport have not made much of a material impact to storage injections due to the high heat. Longer-term, barring persistent above normal temperatures and underperforming US gas production, higher injections should start to material and narrow the storage deficit heading into the winter.
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