No Thanksgiving joy for gas market bulls. Mild weather and record US gas production are contributing to yet another flip back to storage injections. Despite colder than normal weather ushering in a larger withdrawal at November’s end, no persistent winter chill is currently visible ahead. Not surprisingly, the December 2023 Henry Hub gas contract expired with a whimper at $2.706/mmbtu, a far cry from last December’s $6.71/mmbtu settlement. The January 2024 contract is now trading as the prompt month at $2.84/mmbtu, lower than the 2024 summer strip. Something has got to give.