STILL BEARISH: Natural Gas Weekly Update

Natural gas consumed for electric power generation in the United States during the 2022–2023 winter heating season (November 1–March 31) averaged 30.6 billion cubic feet per day (Bcf/d), the highest winter heating season average on record, based on data from S&P Global Commodity Insights. Natural gas consumed for electric power generation has increased most winter heating seasons since 2016–2017 with the continued reductions in coal-fired electricity generation and the overall growth in electricity demand.