KOLD - Natural Gas Market: Weather-Related Consumption Has Already Reached A Major Low And Is Now Expected To Trend Higher
- Aggregate demand for U.S. natural gas totaled around 662 bcf (or 94.6 bcf/d) for the week ending November 6.
- Aggregate supply of natural gas in the contiguous United States totaled around 680 bcf (or 97.2 bcf/d) in the same week.
- Currently, we expect the EIA to report a draw of 1 bcf next week (a final estimate will be released on Wednesday).
- Annual storage surplus is projected to shrink by 19 bcf by December 11.
- Actual TDDs have already reached a major low and are now expected to trend higher. The negative (bearish) deviation vs. the norm should moderate substantially.
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Natural Gas Market: Weather-Related Consumption Has Already Reached A Major Low And Is Now Expected To Trend Higher