Commodity Market Report
North America gas weekly update: Triple-digit storage injections projected
Report summary
Major league baseball’s regular season is winding down with the hunt for October in full swing. Triples have become somewhat rare, less common than singles, doubles, and even home runs. Triple-digit storage injections are not particularly rare North America gas markets. However, the last 100+ Bcf build was in the week ending 3 June 2022, and we only recorded two during the entirety of the 2021 injection season. Muted supply growth amidst faster ramp up of demand, especially LNG, has been a major culprit ex-weather of this large injection drought over the last couple of years. However, now that US gas production is hitting record levels while overall demand is slackening to a seasonal low point, a string of triple-digit storage injections may be in store. In the weeks ahead the North America gas market asks: • How many triple-digit storage injections will occur this fall? • When will the Northeast start to contribute to supply growth?
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