Commodity Market Report

North America gas markets short-term outlook: Tenuous path ahead for Summer 2021 gas prices

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23 March 2021

North America gas markets short-term outlook: Tenuous path ahead for Summer 2021 gas prices

Report summary

After a roaring cold February, March is proving disappointing to gas market bulls. Unsurprisingly, the April prompt contract continues to lose ground, at times testing the floor of $2.50/mmbtu. Withdrawal season looks to be coming to an early close, with double-digit salt injections continuing for the third consecutive week due to falling heating loads, impaired industrial demand and outperforming production. Summer prices will receive support from LNG and Mexican exports, but there are questions around US gas production. How strongly will producers continue to focus on capital discipline? We are watching intently for a spring fall-off as we enter the injection season; if not, or if delayed, Henry Hub may fall further.

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What's included

This report contains:

  • Document

    North America Gas Markets Short Term Outlook Tenuous Path Ahead For Summer 2021 Gas Prices

    PDF 850.82 KB

  • Document

    Basis Outlook

    XLS 113.50 KB

  • Document

    LNG Detail Incl Export

    XLS 232.50 KB

  • Document

    Demand Detail

    XLS 801.00 KB

  • Document

    Industrial Index

    XLS 116.50 KB

  • Document

    NGL Price Outlook

    XLS 177.50 KB

  • Document

    Northeast Takeaway Capacity

    XLSX 479.62 KB

  • Document

    Power Demand Curve

    XLS 183.00 KB

  • Document

    Price Outlook

    XLS 122.00 KB

  • Document

    Storage Outlook

    XLS 160.00 KB

  • Document

    Supply Demand Balances

    XLS 328.00 KB

  • Document

    Supply Detail

    XLSX 282.33 KB