Zakharchuk/Shutterstock Save for later Print Download Share LinkedIn Twitter 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.
