Commodity Market Report
North America gas weekly update: how low can you go, O Henry?
Report summary
Mother Nature is not helping out with gas markets. No significant heat is in store, there's a potential Gulf Coast rainmaker in the days ahead, and El Niño conditions are strengthening, which usually correlate with milder summer weather. Production isn't helping, either, and while lower than expected, levels are holding at a near record. All of this is contributing to the lowest July NYMEX since 2016, when a warm winter had bloated end of season storage levels to a record 2.5 tcf. Henry Hub prices nosedived below $2.00/mmbtu then; how low will they go now?
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