Loading…
Upper Midwest natural gas prices face pressure from high storage, with volumes above the five-year maximum. Chicago basis versus Henry Hub averaged about minus 45 cents/MMBtu month-to-date and hit a low of minus $1.03 on October 12.
Bakken production continued to outperform as flaring fell.
Weak regional basis and ample storage point to lower regional gas prices until winter demand tightens supply.
spglobal.comOct 16, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
