GAZB - Natural Gas Market Overview: Bullish Weather And Bullish Non-Degree-Day Factors Support Natural Gas Prices
This report covers the week ending November 22, 2019.
Total Demand
We estimate that the aggregate demand for American natural gas (consumption + exports) totaled around 733 bcf for the week ending November 22 (down 8.8% w-o-w (week over week) but up 1.1% y-o-y (year over year)). The deviation from the norm remained positive, but declined from +32% to +17% (see the chart below). We estimate that total demand has been above the five-year norm for 45 consecutive weeks now.
Source: Bluegold Research estimates and calculations
This week, the weather conditions have warmed up across