As is usually the case in late March and early April, natural gas demand can’t decide whether it is spring or still winter. Total daily demand can swing 15 Bcf per day from week to week depending on temperature conditions – which we saw in colors last week as demand rose from 60 Bcf on March 18 to over 76 Bcf on March 24, driven largely by colder temperatures sweeping the continent.
Working gas in storage is supplying much of the swing as demand volumes (including Mexican exports) during the last two weeks of March have been as low as 62 Bcf per day or as high as 79 Bcf per day, according to Bentek Energy, LLC.
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