GAZB - Natural Gas Market Overview: COVID-19 Adjustments Produce A Temporary Bearish Bias
This report covers the week ending April 10, 2020.
Total Demand
We estimate that the aggregate demand for U.S. natural gas (consumption + exports) totaled around 663 bcf for the week ending April 10 (down -3.3 bcf/d w-o-w (week over week) but up +11.1 bcf/d y-o-y (year over year)). The deviation from the norm remained positive but decreased slightly from +13.7 bcf/d to +12.7 bcf/d. We estimate that total natural gas demand has been above the five-year norm for 110 consecutive weeks now.
Source: Bluegold Research estimates and calculations
Last week, the weather conditions have