Pipelines, Storage & Power

US gas storage drawdowns to remain high in February

The growing popularity of gas in the US and Canada will keep gas-drawdown rates high in the two countries during February The growing popularity of gas in the US and Canada will keep gas-drawdown rates high in the two countries during February.
By Abhishek Kumar 8 February 2017 0 24448

Colder temperatures are expected in the United States during February 2017 compared with the same month last year, which will contribute towards high gas drawdown rates in the country. This will also be a bullish factor for Henry Hub prices over the coming weeks.

Weather forecasts suggest the Total Degree Days figure in the US will average 697F in February compared with 638F in February last year, which will increase weather-related gas demand in the country. GGA forecasts weather-related gas demand in the US will increase by 9.2%...