North America gas weekly update: Summer price volatility

While weather blips are bringing down injections this week, we should be back on course for increasing shoulder season injections before a knife's-edge summer. We're expecting volatility as production, power demand and export seasonality could all push prices one way or the other. Northeast pipeline maintenance could curtail production, and Whistler could add more Permian volumes earlier than expected. Higher prices could back out some power demand. And any shocks to exports—hurricanes, unexpected global price swings resulting in shut-ins, or new terminals coming online earlier than expected, could add to or subtract from demand in significant ways. The timing's a little precarious—ripe for a volatile market.