# Weak demand, elevated storage to pressure US Northeast gas prices | S&P Global

> Spot gas prices in the US Northeast and Appalachia were at or below $1 per MMBtu, with some hubs near multiyear lows. Mild weather, seasonal pipeline maintenance at Cove Point, and storage near capacity are weighing on regional demand and prices.

- Date: 2020-10-02 · published 2020-10-02T12:00:00.000Z
- Category: weather · region US · magnitude low
- Page: https://feedsoft.ai/events/9681-weak-demand-elevated-storage-to-pressure-us-northeast-gas-prices-s-and-p-global
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Weak regional gas demand and full storage point to continued low energy input costs for US processors in the near term, with limited upside for gas-based costs.

## Read by commodity

- NATGAS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2016-10-31 | [Natural Gas Prices Edge Lower as Traders Weigh Storage Volumes, Demand - WSJ](https://feedsoft.ai/events/9174-natural-gas-prices-edge-lower-as-traders-weigh-storage-volumes-demand-wsj.md) | -15.1% | +0.4% |
| NATGAS | 2023-01-05 | [Europe's gas prices slump to moderate storage build](https://feedsoft.ai/events/9184-europe-s-gas-prices-slump-to-moderate-storage-build.md) | -10.5% | -35.3% |
| NATGAS | 2023-11-28 | [Nat-Gas Prices Tumble as Warm U.S. Temps Stifle Heating Demand](https://feedsoft.ai/events/33343-nat-gas-prices-tumble-as-warm-u-s-temps-stifle-heating-demand.md) | -5.3% | -8.7% |
| NATGAS | 2020-11-12 | [Warm weather, strong supply weighs down US gas prices, with some record lows \| S&P Global](https://feedsoft.ai/events/50345-warm-weather-strong-supply-weighs-down-us-gas-prices-with-some-record-lows-s.md) | -12.2% | -13.4% |
| NATGAS | 2022-10-18 | [With Demand Disappointing, Natural Gas Futures Prices Tumble Further](https://feedsoft.ai/events/12793-with-demand-disappointing-natural-gas-futures-prices-tumble-further.md) | -17.2% | +0.7% |

## Sources

- spglobal.com: https://www.spglobal.com/energy/en/news-research/latest-news/natural-gas/100220-weak-demand-elevated-storage-to-pressure-us-northeast-gas-prices

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