GAZB - Natural Gas Market: The Traders Continue To Price In A Bullish Scenario For The Upcoming Withdrawal Season
This report covers the week ending September 11, 2020.
Total Supply-Demand Overview
We estimate that the aggregate demand for U.S. natural gas (consumption + exports) totaled around 594 bcf (or 84.9 bcf/d) for the week ending September 11 (-1.0 bcf/d w-o-w (week over week) and -3.7 bcf/d y-o-y (year over year)). The deviation from the norm remained positive and actually increased slightly from +7.1 bcf/d to +8.4 bcf/d.
We estimate that the aggregate supply of natural gas in the contiguous United States (production + imports) totaled around 659 bcf (or 94.1 bcf/d) for the week