Commodity Market Report
North America gas short-term outlook: Early heat rallies summer Henry Hub gas prices above $3/mmbtu
Report summary
So far, storage injections have been relatively muted, due to late season cold followed by increasing CDDs. Despite forecasted heat driving up the summer strip, prices could rise even more if: • Temperatures continue to warm, and coal management makes gas power curves less elastic • Capital discipline continues to weigh on production • Wide open global pricing arbitrage gets US LNG running at even greater rates • Gas demand such as in the industrial sector continues to improve after Covid-19 The market’s heating up.
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