GAZB - Natural Gas Demand Remains Resilient Despite Coronavirus Concerns
Welcome to the demand edition of Natural Gas Daily!
Following more states announcing mandatory isolations, natural gas demand on a real-time basis remains resilient with no total demand drop.
The one area of weakness is coming from residential and commercial demand, which is taking the big part of the demand hit from the shutdowns.
But strong demand in power burn, industrial, and exports continue to offset the demand hit.
In addition, Lower 48 gas production is falling and will likely accelerate its decline in April as producers shut down well completions and shut-in high variable