Commodity market report

North America gas markets short-term outlook June 2017: Normal summer weather would mean the NYMEX strip looks undervalued

Loading current market price

Get this report

Loading current market price

Get this report as part of a subscription

Enquire about Subscriptions

Already have subscription? Sign In

Further information

Pay by Invoice or Credit Card FAQs

Contact us

Contact us about this report

Report summary

Mild weather continues to conspire against the North American gas market. But if and when weather turns normal a significant gas price rally will be in store as this gas market remains under supplied. Industrial demand is growing exports to Mexico are rising even if not quite as much as expected imports from Canada are falling and most significantly gas demand for LNG exports continue to ramp up. Yet LNG exports may cannibalize some piped exports to Mexico and Eagle Ford drilling continues to rise contributing to what may be the highest ever five month period of supply growth. Even with this record strong supply growth and modest outlook for summer gas burn storage inventories will not fill to the 3.8 tcf inventory level the market is currently pricing in. If weather is normal and this year highlights the risk if it isn t we expect prices to rally and average about $3.30/mmbtu for the July October period more than $0.30/mmbtu over the current market.

What's included

This report contains

  • Document

    Basis Outlook.xls

    XLS 128.00 KB

  • Document

    Demand Detail.xls

    XLS 669.00 KB

  • Document

    Industrial Index.xls

    XLS 121.00 KB

  • Document

    LNG Detail incl Export.xls

    XLS 219.50 KB

  • Document

    NGL Price Outlook.xls

    XLS 116.50 KB

  • Document

    Northeast Takeaway Capacity.xls

    XLS 496.00 KB

  • Document

    Price Outlook.xls

    XLS 136.00 KB

  • Document

    Storage Outlook.xls

    XLS 149.50 KB

  • Document

    Supply Demand Balances.xls

    XLS 305.50 KB

  • Document

    Supply Detail.xls

    XLS 279.00 KB

  • Document

    North America gas markets short-term outlook June 2017: Normal summer weather would mean the NYMEX strip looks undervalued

    PDF 2.42 MB

  • Document

    North America gas markets short-term outlook June 2017: Normal summer weather would mean the NYMEX strip looks undervalued

    ZIP 3.79 MB

Table of contents

  • Executive summary
  • Infrastructure
  • Supply
  • Demand
  • LNG
  • Regional

Tables and charts

This report includes 15 images and tables including:

Images

  • Price outlook and supply-demand balance
  • Henry Hub price outlook
  • Weather adjusted injections 1.0 bcfd below normal
  • Twelve-month industrial demand forecast
  • Feedgas projections by terminal
  • Northeast demand
  • New takeaway capacity from Northeast to Midwest
  • Basis outlook and destinations for Northeast supply
  • Regional: Image 4

Tables

  • Short-term price outlook
  • US supply-demand outlook (bcfd)
  • US storage inventories (bcf)
  • Supply: Table 1
  • Canada supply-demand outlook (bcfd)
  • Mexico supply-demand outlook (bcfd)

Questions about this report?

  • Europe:
    +44 131 243 4699
  • Americas:
    +1 713 470 1900
  • Asia Pacific:
    +61 2 8224 8898