Market Insight

US Market Stumbles at Winter's Threshold

Copyright © 2023 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.

Bearish headwinds that began to blow through the US gas market in early September turned into a gale by late last month. US Henry Hub futures have taken a headlong $3.35 plunge from a settlement high above $9 per million Btu on Sep. 14 to the market close Sep. 30 in the $6.70s/MMBtu. Since storage took center stage as a dominant — and increasingly bearish — fundamental last month, prompt-month natural gas prices have struggled to regain momentum. On Sep. 27, the US Energy Information Administration reported a 103 billion cubic foot storage build for the week ended Sep. 23, the second consecutive triple-digit, above-consensus injection. The build brought working gas inventories to 2.977 trillion cubic feet (84.3 billion cubic meters) and maintained a pace that should bring storage to between 3.4 Tcf-3.5 Tcf by Oct. 1.

Gas Prices, Gas Inventories, Gas Pipelines, Gas Demand, Gas Supply, Gas Futures and Derivatives, Gas Spot Markets, LNG Supply, LNG Prices, Liquefaction
Wanda Ad #2 (article footer)
Unprecedented congestion gripped the EU’s gas grid last year, but the level of disruption is unlikely to support new gas interconnectors.
Tue, Jun 6, 2023
Europe's heat pump growth is backed by supportive policies, which could displace a significant share of EU gas demand.
Tue, Jun 6, 2023
Abundant supply and lackluster demand sent July gas futures 24.5¢ lower in the short post-Memorial Day week.
Fri, Jun 2, 2023