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Monday, 6 March 2017

Warm US winter leaves natural gas market with supply problem

Warm US winter leaves natural gas market with supply problem:

"Winter has lost its icy bite for the second straight year in the US, wrongfooting forecasters and slackening demand for natural gas, resulting in excess supplies.  Unusual warmth across most of the country has led to the first-ever recorded rise in US natural gas inventories during the month of February. Normally utilities draw down stocks to fulfil heating demands.  Demand for gas used in heating is averaging less than 38bn cubic feet per day this winter, off by more than 1.5bn cu ft/d from the five-year average, according to Platts Analytics. "



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