Commodity Market Report
North America gas short-term outlook: Summer 2024 prices need to stay lower for longer
Report summary
Another mild winter has wreaked havoc on North America gas markets by leaving bloated storage levels in the ground heading into spring. Prices have collapsed much earlier than in the past, with Henry Hub gas prices now struggling to recover above $2/mmbtu. Nonetheless, markets are acting rationally, as low prices are the best cure for low prices, and current supply and demand responses must remain intact to help storage avoid “hitting the wall” this fall. Find out more about where North American gas markets are headed: • When will Freeport LNG return to full utilization? • Will US gas production rebound in 2025? • How much will the storage surplus shrink over the coming injection season?
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