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US natural gas power burn set a new daily record of 44.5 Bcf/d on July 19, 2019, during a record heat wave across the Lower 48. Average maximum temperatures topped 85°F in most of the country from July 16-21.
Henry Hub averaged $2.33/MMBtu over that span.
Heat-driven power demand absorbed large volumes of gas, which can tighten the balance and support prices. Stronger gas burn at low prices shows that cooling demand can offset some of the surplus.
pipexch.comJul 30, 2019After 221 past bullish weather events, Natural Gas moved a median +3.3% over 5 sessions (61% higher; middle half -5.2% to +14.0%), and -0.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
