Commodity Market Report
North America gas markets short-term outlook October 2019: The harder they fall
Report summary
The market had quite the rally on its hands until shoulder season demand lows and continued surging production removed the punch bowl. Prompt prices that briefly reached $2.70/mmbtu mid-September fell hard by $0.50/mmbtu. However, we continue to believe the winter strip pricing has been discounted too low, too early. We expect production growth to slow down from its robust summer rate, while most of the non-weather demand is unchanged to higher. Could we see another rally as we enter winter?
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