Commodity Market Report

North America gas markets short-term outlook July 2017: hotter weather provides a price bump for now, but uncertainties remain

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21 July 2017

North America gas markets short-term outlook July 2017: hotter weather provides a price bump for now, but uncertainties remain

Report summary

With hotter weather and lower-than-average wind generation, July finally reversed the trend of mild weather and high renewables output that supressed gas burns, triggering a modest rally in price. We're starting to see evidence of supply growth in month-to-month pipeline scrapes, but even with this ramp-up, storage will fall short of end-of-season targets unless prices rise and some power generation in MISO and SPP shifts back toward coal. Mexico and LNG exports offer some price support but weather and supply represent the key unknowns for the balance of injection season.

Table of contents

    • Could 2018 Henry Hub prices surprise to the upside?
  • Infrastructure
  • Supply
    • Industrial
    • Power
    • Current status
    • This winter
    • Looking ahead to 2019
    • Northeast
      • Basis outlook
    • Pipeline build outlook
    • West
    • Canada
    • Mexico
      • Supply
      • Demand
      • Other

Tables and charts

This report includes 15 images and tables including:

  • Weather-adjusted injections are 2.8 bcfd below normal
  • US storage inventories (bcf)
  • Key supply metrics and indicators
  • Implied prices on hedges added during Q1 2017
  • Gas-hedge activity
  • Natural gas gathering and pipelines in Delaware Basin
  • Gas-hedge activity
  • Short-term price outlook
  • Henry Hub price outlook
  • US supply-demand outlook (bcfd)
  • Feedgas projections by terminal
  • Canada supply-demand outlook (bcfd)
  • Basis outlook and destinations for Northeast supply
  • Regional: Image 2
  • Mexico supply-demand outlook (bcfd)

What's included

This report contains:

  • Document

    Basis Outlook.xls

    XLS 133.00 KB

  • Document

    Demand Detail.xls

    XLS 697.50 KB

  • Document

    Industrial Index.xls

    XLS 124.00 KB

  • Document

    LNG Detail incl Export.xls

    XLS 227.00 KB

  • Document

    NGL Price Outlook.xls

    XLS 117.50 KB

  • Document

    Northeast Takeaway Capacity.xls

    XLS 510.50 KB

  • Document

    Power Demand Curve.xls

    XLS 124.50 KB

  • Document

    Price Outlook.xls

    XLS 136.00 KB

  • Document

    Storage Outlook.xls

    XLS 156.00 KB

  • Document

    Supply Demand Balances.xls

    XLS 315.50 KB

  • Document

    Supply Detail.xls

    XLS 283.00 KB

  • Document

    North America gas markets short-term outlook July 2017: hotter weather provides a price bump for now, but uncertainties remain

    PDF 771.45 KB

  • Document

    North America gas markets short-term outlook July 2017: hotter weather provides a price bump for now, but uncertainties remain

    ZIP 2.23 MB

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