Demand has dropped significantly as we enter the shoulder season and gas is being redirected from summer power load demand back toward storage. Some analysts expect injections for the week ending September 10 to touch triple digits. Yet injections remain behind last year.
Current winter futures are priced only about 55-75 cents above current market prices, so a huge pricing spread that might encourage a rush to late season injections does not seem to be there. Prices have been primarily influenced by strong supply fundamentals, recent mild weather, and a hurricane season that has resulted in a series of non-events.
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