Summer officially began on Sunday, signaling the beginning of what is usually a moderate gas demand season in the region, contrasting with the light demand of spring. We will have to wait some time for gas demand to truly pick up to summer highs, as Northeast demand slackened over the past week. The lower gas-for-power-demand coincided with higher Appalachian production, leading to lower cash basis prices in the producing region. Demand for gas was particularly low over the weekend. Because of the Juneteenth holiday, cash trading for the four days from Friday through Monday was completed on Thursday morning, so low prices during that trading day determined four-sevenths of the average weekly price.
Featured Articles
- Analyst Insight
Northeast Gas Demand Down as Prices Slump
Northeast natural gas prices were very low last week, as demand slumped lower. However, LNG feedgas from the region has now returned which to provide more demand as fall weather gets chillier.
- Analyst Insight
Northeast Gas Demand Started New Year with a Bang
Natural gas demand was high over the New Year in the Northeast, but has since fallen and is expected to be low through the weekend.
- Analyst Insight
In-Region Northeast Gas Demand Flat, but LNG Feedgas Returns
LNG feedgas from Cove Point returned on Sunday, but aside from that gas demand in the Northeast for the week ended October 14 was flat to the prior week.
