From a market metrics point of view, two things stand out in early November. (1) Working gas in storage is hundreds of Bcf lower than the most recent five-year average. That certainly has influences on perceptions of market balance and ultimately commodity prices, which are predictably stronger now compared to earlier in the year. (2) Flowing gas supply is running 11 percent (8.2 Bcf per day) higher than in November 2017, so the algebra for meeting winter heating season demand may be changing.
To learn more, read the complete Natural Gas Market Indicators Report by clicking here. Please direct questions and comments to Chris McGill at cmcgill@aga.org or Richard Meyer at rmeyer@aga.org.
