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Extreme cold at the end of January 2019 pushed Midwest natural gas consumption to a record of 37.9 bcf on January 31, with temperatures as low as minus 45 degrees Fahrenheit. Electricity demand was also at near-record levels that day, and residences and businesses accounted for 69% of gas use.
Record heating demand drew heavily on gas supplies in the Midwest during a historic cold event. The episode shows how weather can rapidly tighten regional gas and power balances.
euci.comMar 5, 2019After 221 past bullish weather events, NATGAS 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.
