GAZB - The Duration Of The Lockdown Is A Major Wild Card: Natural Gas Price Could Be Anywhere Between $0.90 And $2.50 Per MMBtu By June
This report covers the week ending April 17, 2020.
Total Demand (if there was no coronavirus)
In the absence of a coronavirus-induced lockdown, we estimate that the aggregate demand for U.S. natural gas (consumption + exports) would have totaled around 690 bcf for the week ending April 17 (up +3.8 bcf/d w-o-w (week over week) and up +15.1 bcf/d y-o-y (year over year)). The deviation from the norm would have remained positive and actually increased from +12.8 bcf/d to +20.3 bcf/d.
Source: Bluegold Research estimates and calculations
In reality, however, total demand was a lot