The large weather system sporting snow and cold that covered two-thirds of the United States last week pushed seasonal demand to over 100 Bcf for a single day on December 10, which is relatively early in the winter heating season for a peak demand day.
Fortunately, the country was well-prepared for the event with storage bursting at the seams and with production, imports from Canada and LNG responding to market requirements. In the middle of the storm, energy commodity prices for natural gas, oil and coal actually declined after the initial reaction to the coming weather event, then bobbed up and down in relatively narrow bands.
Price movements during the storm generally confirm a strong supply position for winter heating season fuels, in general.
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