Commodity Market Report

North America gas markets short-term outlook December 2019: The big short

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18 December 2019

North America gas markets short-term outlook December 2019: The big short

Report summary

A big short has been placed on low Henry Hub gas prices. The market is already assuming that this winter is over. Even a polar vortex close out would still not put at risks end of season US working gas storage stock out. But what if US gas production is showing signs of finally bending over. Although it is true that production is at much higher levels than in the past, so too are demand and exports. With a little bit of persistently colder weather outsized storage withdrawals could occur in January and February. Better yet declining production levels from capital discipline being exercised from financially distressed producers that were not given the opportunity this winter to hedge at higher prices may result in higher prices ahead. Will low prices be the cure of low prices?

Table of contents

  • Is winter already over? After a cold November, December weather has been milder than normal with a very warm end to 2019 currently forecasted over the holiday season. However, we are reminded that January and February are the coldest months of winter and can yield outsized storage withdrawals. Better yet, some early signs that US gas production is finally bending over give hope for Henry Hub gas prices to recover.
  • Permian and Northeast basis remains resilient despite production growth?

Tables and charts

No table or charts specified

What's included

This report contains:

  • Document

    Basis Outlook.xls

    XLS 115.00 KB

  • Document

    Demand Detail.xls

    XLS 737.50 KB

  • Document

    Industrial Index.xls

    XLS 113.50 KB

  • Document

    LNG Detail incl Export.xls

    XLS 223.50 KB

  • Document

    NGL Price Outlook.xls

    XLS 176.00 KB

  • Document

    Northeast Takeaway Capacity.xls

    XLS 481.50 KB

  • Document

    Power Demand Curve.xls

    XLS 182.50 KB

  • Document

    Price Outlook.xls

    XLS 122.00 KB

  • Document

    Storage Outlook.xls

    XLS 161.00 KB

  • Document

    Supply Demand Balances.xls

    XLS 319.00 KB

  • Document

    Supply Detail.xlsx

    XLSX 255.40 KB

  • Document

    North America gas markets short-term outlook December 2019: The big short

    ZIP 2.49 MB

  • Document

    North America gas markets short-term outlook December 2019 The big short.pdf

    PDF 894.95 KB

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