Power and industry demand to support Henry Hub prices8 March 2017
Spot and front-month futures prices at the Henry Hub are expected to receive additional support during March as demand for gas in the United States is expected to remain high. The US had a mild February, which resulted in the country making its first-ever net gas injection for the month in the week ending 24 February. However, fundamentals are likely to support prices over the coming weeks.
Preliminary weather forecasts suggest the US Total Degree Days (TDD) figure will average 561F in March 2017 compared with 485F in March 2016, which would support weather-related gas demand during the month. GGA forecasts the country’s weather-related gas demand will be 49.2 billion cubic metres in March, an increase of 15.5% on an annual basis.
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