Glut Persists

The most likely path is that high storage, associated gas from the Permian, and steady dry-gas output keep Henry Hub below the psychologically important $3/MMBtu level. Producers face renewed pressure to slow drilling or defer completions, while gas-intensive buyers benefit from lower feedstock costs.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.