Record amounts of snow in the mid-Atlantic and periodic cold temperatures in many regions of the country have not been able to shake-off the relative strength of U.S. natural gas supply this winter heating season. Henry Hub cash and futures prices remain stable in a $5.30-6.00 per MMBtu range and seem to be rational in a market still sporting high levels of working gas in underground storage, firm daily production and demonstrated flexibility from Canadian and LNG sources.
To some waiting for a domestic production fall, it remains remarkable that rig operations in the United States are on the increase again and that the majority are clearly targeted to sustain and grow more natural gas production capability in the country.
Visit this link to download the full Natural Gas Market Indicator. Topics covered include: Reported Prices, Weather, Working Gas in Underground Storage, Natural Gas Production, Rig Counts, Pipeline Imports and Exports, and LNG Markets.