Commodity Market Report
North America gas short-term outlook January 2019: winter continues
Report summary
Winter is not over yet. Even though prices eased off in the context of a nationwide month-long warm-up, the latest forecasts are calling for a return to wintery conditions, at odds with a market selling Henry Hub below $3.00/mmbtu. The storage deficit to the five-year average narrowed during this warm streak, but large weekly withdrawals are set to occur in the next several weeks. Our remainder of winter price view remains unchanged at $3.25/mmbtu, but risks remain. Colder weather compounded with freeze-offs could still profoundly affect our price view.
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