# ANALYSIS: High storage, recovering production, lower demand weigh on Midwest natural gas price outlook

> 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.

- Date: 2020-10-16 · published 2020-10-16T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/7684-analysis-high-storage-recovering-production-lower-demand-weigh-on-midwest
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Weak regional basis and ample storage point to lower regional gas prices until winter demand tightens supply.

## Read by commodity

- NATGAS: bearish ▼

## Sources

- spglobal.com: https://www.spglobal.com/commodity-insights/en/news-research/latest-news/natural-gas/101620-high-storage-recovering-production-lower-demand-weigh-on-midwest-price-outlook

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.