With our first major winter cold and snowy storm spreading across the Midwest, South, and Northeast, natural gas prices have been on the rise again. Gas, of course, is an essential heating fuel, so winter demand spikes 40-60% above summer as power generation and heating needs collide this time of year.
Heating demand has averaged about 45 Bcf/d this month, compared to 41 Bcf/d in December and 37 Bcf/d in November. This is well below the whopping 58 Bcf/d that we saw last January when the effects of the Bomb Cyclone tilted the market for the entire year.
