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April 20 Natural Gas Weekly: Storage Forecast And Update On Supply/Demand Balance

April 20, 2018  

We estimate that aggregate demand for American natural gas (consumption + exports) totaled around 580 bcf this week (mostly flat w-o-w, but up as much as 35.0% y-o-y). The deviation from the norm stayed positive and increased from +32.0% to +38.0% (see the chart below). According to our calculations, aggregate demand for U.S. natural gas (on a weekly basis) has been above 9-year norm since February 24, 2017. Cold weather conditions persisted across the Lower-48 states – especially, in the Central, Midwest and Northeast part of the country. 

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