The U.S. gas market is looking a little tight despite another record warm winter that limited heating demand. Growing structural consumption from electric power producers as well as increasing exports are significantly changing the balance between supply and demand. Consumption (including exports) is now running higher for any given level of heating and cooling demand with the result the market wants to carry a higher level of inventories. Stocks of working gas in underground storage stood at 2,049 billion cubic feet on March 24, according to the U.S. Energy Information Administration. Stocks are 425 billion cubic feet, around 17 percent, lower than at the corresponding point in 2016 ( reut.rs/2ooOkZf ). Stocks have generally remained lower this winter even though temperatures broadly matched the record warmth in 2015/16 ( tmsnrt.rs/2mVt7sx ). Inventories are still 250 billion cubic feet (14 percent) above the five-year average, according to the U.S. Energy […]