GAZB - Natural Gas Market Overview: Total Degree Days To Reach A Near-Term Low On February 3
This report covers the week ending January 31, 2020.
Total Demand
We estimate that the aggregate demand for American natural gas (consumption + exports) totaled around 836 bcf for the week ending January 31 (down 9.6% w-o-w (week over week) and down as much as 12.3% y-o-y (year over year)). However, the deviation from the norm remained positive but dropped sharply from +23.90% to +9.80%. We estimate that total demand has been above the five-year norm for 55 consecutive weeks now.
This week, the weather conditions have warmed up significantly across the Lower-48 states. We