(Reference: EIA) The chart below shows prices are 50% higher than the 2015–2016 heating season. Total natural gas demand was near the same level as the 2015–2016 heating season, with year-over-year decreases in power burn. This was roughly offset by increases in U.S. exports, according to data from PointLogic. However, natural gas production in the lower 48 states, during the 2016–17 heating season, averaged over two billion cubic feet per day (Bcf/d) below production in the 2015–2016 season. With imports of Canadian natural gas averaging 0.2 Bcf/d above last year, most of this supply shortfall was met by withdrawing greater volumes of natural gas from storage.
Strategy – Spring is a good buying opportunity as the winter gave us a break. If this past winter would have been normal or below normal temps in the northeast, all pricing would have jumped significantly.