UGAZF - Natural Gas Market Overview: Bearish Divergence Between Long-Term Storage Expectations And The Price Level
This report covers the week ending August 21, 2020.
Total Supply-Demand Overview
We estimate that the aggregate demand for U.S. natural gas (consumption + exports) totaled around 634 bcf (or 90.5 bcf/d) for the week ending August 21 (-1.4 bcf/d w-o-w (week over week) and -2.5 bcf/d y-o-y (year over year)). The deviation from the norm remained positive but decreased from +11.2 bcf/d to +10.3 bcf/d.
We estimate that the aggregate supply of natural gas in the contiguous United States (production + imports) totaled around 662 bcf (or 94.6 bcf/d) for the week ending August