Res-comm below 36 Bcf/d in December, lowest since 2015 NYMEX prompt under $4, down 22% from late November Storage deficit at 90 Bcf, down from 235 Bcf in September US residential-commercial heating demand is trending at its lowest in six years in December as mild weather across the Lower 48 states continues to put broad downward pressure on the gas market.
In December, demand from homes and businesses has averaged just 35.9 Bcf/d, marking the lowest month-to-date average since 2015, data compiled by S&P Global Platts Analytics shows. Mild weather is entirely to blame for the weakness. In December, the US population-weighted temperature has averaged a balmy 48.4 degrees Fahrenheit – also the warmest on record since 2015. As the gas market enters winter’s historically coldest period stretching from December to February, sentiment in the futures […]