Unlike home heating demand amid one of the mildest winters on record, industrial consumption of natural gas is holding relatively steady due to ongoing robust economic activity and energy needs in the U.S. manufacturing sector. Industrial gas demand averaged 24.0 Bcf/d over the 30-day period through last week, according to Wood Mackenzie data. That was…
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Resilient Economy, Potential for Interest Rate Cuts Could Power Industrial Natural Gas Demand, Support Prices
For all the talk about weak weather-driven demand in 2023, a buoyant U.S. economy may complement mounting global energy needs and provide a key pillar of strength for natural gas markets in the form of steady industrial demand in the new year. Over much of 2023, elevated inflation and the Federal Reserve’s (Fed) aggressive interest…
December 19, 2023
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