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Henry Hub cash and prompt futures fell sharply in September after Tropical Storm Beta disrupted Gulf Coast LNG demand, but the winter 2020-21 forward curve held near $3.30/MMBtu. S&P Global expects tighter supply-demand fundamentals by late fourth quarter as US production stays about 9% below its late-2020 high.
The firm winter strip signals that gas-based input costs are expected to stay elevated into the winter feeding season. Near-term volatility has had little effect on the forward outlook.
spglobal.comJ. Robinson, Kelsey HallahanSep 24, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
