Growing Midwest storage surplus looms over Chicago summer gas market

Chicago natural gas traders could face a prolonged period of basis market blues this summer as Midwest inventory levels continue to trend near five-year highs, promising a bearish start to the injection season. Since late January, cash prices at the Chicago city-gate have already come under sustained pressure amid mild weather and relatively weak demand. On Feb. 14, Chicago’s day-ahead… Chicago natural gas traders could face a prolonged period of basis market blues this summer as Midwest inventory levels continue to trend near five-year highs, promising a bearish start to the injection season. Since late January, cash prices at the Chicago city-gate have already come under sustained pressure amid mild weather and relatively weak demand. On Feb. 14, Chicago’s day-ahead… Read More