Step change still looming for gas markets

While the near-term outlook for natural gas prices remains volatile, there continues to be healthy case-building for a step change in gas pricing fundamentals in the coming years.The cold wave sweeping much of North America near the early part of this month helped nudge industry into its first storage withdrawal of the season. According to US Energy Information Administration data, operators withdrew 27 bcf of gas from storage during the week ended Nov. 1. That compares with injection into storage of 11 bcf the prior week and a 25 bcf average injection for the same week over the preceding 5 years. That has pushed storage levels into their first year-on-year deficit since the end of May 20...

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