Natural gas production in Canada proved robust through the past winter, even as heating demand waned in the back half of the season. Supplies in storage swelled and prices dropped as a result, mirroring and compounding conditions in the United States. 

Related U.S. challenges include elevated supplies in the Pacific region, due in part to steady Canadian gas imports into the Northwest.

In fact, according to RBN Energy LLC, Alberta working gas in storage as of mid-March was 64% higher than a year earlier and 53% plumper than the five-year average. It stood at “the fourth highest level on record for this time of year,” RBN analyst Martin King said.

[Get Better Intel: Where are natural gas prices in Canada heading in the next few years? NGI’s Forward Look now includes...