Rising production to take the sizzle out of Henry Hub

Strong industrial demand and constrained domestic supply will support US natural gas prices throughout the remainder of this year. However, we expect that the average price will fall in 2022 in large part because of higher production.
Samuel Burman Assistant Commodities Economist
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Energy prices to fall, but not by as much

Oil prices have risen sharply since the start of 2022 and natural gas and coal prices have remained high. We continue to expect energy prices to fall this year, but the latest developments on supply suggest that they will not fall by quite as much as we previously thought.

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OPEC Watch

OPEC Monthly Oil Market Report (Jan.)

OPEC continued to raise output by less than its target in December. However, the group is still steadily raising output, which is a key reason why we see the market moving into a surplus this year.

18 January 2022

Energy Data Response

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Commercial crude stocks slumped last week, reflecting a partial recovery in demand. However, we think demand will remain under pressure as COVID-19 cases rise in the US and as economic growth slows.

12 January 2022

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6 July 2021

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Although we remain optimistic about the near-term demand outlook, we think that the price of US lumber will fall further in the coming months as domestic supply continues to revive.

23 June 2021

Metals Data Response

Global Aluminium Production (May)

Average daily global aluminium production edged up in May as smelters continued to take advantage of high prevailing prices. We think that production will rise further in the near future.

21 June 2021
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