Commodity Market Report
North America gas weekly update: welcome back, $3 gas?
Report summary
How a little bit of colder weather helps. NYMEX January 2020 Henry Hub gas prices were at about $2.57/mmbtu when we released our October short-term outlook, and $3.00/mmbtu gas was nowhere to be found until the late 2020s. Now, January prices are pointing to close to that threshold, and if the cold persists, we will see $3.00 gas once again. Over the next two weeks, we are now expecting to start the withdrawal season, and gas in storage will fall to 3.67 tcf by the week ending 15 November after peaking this week at 3.73 tcf.
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