Commodity Market Report
North America gas short-term outlook June 2019: will power and production sensitivity respond to even lower Henry Hub prices?
Report summary
Prices are searching for a floor yet again as six consecutive triple digit weekly storage injections have knocked the wind out of Henry Hub. The last time prices were this low was in 2016, when a mild winter left March stocks high. Then, however, economic production shut-ins and coal displacement rebound prices to over $3.00/mmbtu by October. Is it too early to "throw in the towel" on the summer yet? A little heat, the price sensitivity of power burns and potential production shut-ins could give a boost to Henry Hub.
Table of contents
- Record storage injections due to summertime blues continue to put significant downward pressure on Henry Hub prices searching for a floor again.
- Northeast production growth continues to underperform amidst more pipeline woes.
- Key fundamental signposts that provide risk to our price outlook include:
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