November 19, 2024
MSBA Newsletter Q4 2024 Energy News
As winter approaches, the U.S. is bracing for the impacts of La Niña. Typically, this pattern brings colder, snowier weather to the northern states and warmer-than-normal temperatures to the southern states. Still, this year's La Niña could impact the demand for natural gas.
Production and Demand
As temperatures drop across the U.S., natural gas demand had a slight tick upwards. While total consumption is up 4.9 percent compared to the week of November 4th, it still remains 1.2 percent lower from last year. The increase was driven by power generation, which rose 2.3 percent. However, the biggest growth was in the residential and commercial sectors, which saw a 23.8 percent increase.
As of Monday, November 11, 2024, natural gas storage reached 3,974 Billion cubic feet (Bcf), up by 42 Bcf from the previous week and 158 Bcf (4.1 percent) higher than last year. While storage is still 6.1 percent (228 Bcf) above the five-year average and has increased from the week before, it has been slowly declining throughout the summer and fall. The U.S. ended last year's heating season 38.4 percent above the five-year average mainly due to a warmer than normal winter.
Natural gas rigs in the U.S. have been declining this year as producers work to align production levels with prices. Although there was no change in rigs from the week of November 11th, this still reflects a significant drop of 13.6 percent compared to last year. This reduction indicates producers' efforts to stabilize the market amidst fluctuating demand and prices.
Looking Forward
Recently, the U.S. faced two significant hurricanes—Milton and Helene. Hurricane Helene disrupted natural gas production and caused power outages, while Hurricane Milton had a smaller impact on liquefied natural gas (LNG) facilities but still affected natural gas demand in the Southeast. Although hurricane season is nearly over, we are preparing for the possibility of winter storms with one expected to hit before Thanksgiving. This upcoming storm will mainly affect the eastern side of the U.S. with strong winds and cold air across the Appalachian Mountains. As always weather is one of our largest variables in the natural gas market, if we have a cooler than normal winter, we can see prices climb.
Missouri School Board Association
As the supplier of the MSBA Natural Gas Consortium, we hope you found this newsletter helpful and informative.
If you have any questions about your natural gas or the market, please contact Alan Pederson at 402-915-8378 and alan.pederson@woodriverenergy.com.
CUSTOMER CARE: Adding or removing contacts
PHONE: 720-617-1286
EMAIL: customercare@woodriverenergy.com
ACCOUNTING: Questions on invoices & payments
PHONE: 720-439-6514
EMAIL: AR@woodriverenergy.com
Market Data:
November 19, 2024
November 19, 2024
MSBA Newsletter Q4 2024 Energy News
As winter approaches, the U.S. is bracing for the impacts of La Niña. Typically, this pattern brings colder, snowier weather to the northern states and warmer-than-normal temperatures to the southern states. Still, this year's La Niña could impact the demand for natural gas.
Production and Demand
As temperatures drop across the U.S., natural gas demand had a slight tick upwards. While total consumption is up 4.9 percent compared to the week of November 4th, it still remains 1.2 percent lower from last year. The increase was driven by power generation, which rose 2.3 percent. However, the biggest growth was in the residential and commercial sectors, which saw a 23.8 percent increase.
As of Monday, November 11, 2024, natural gas storage reached 3,974 Billion cubic feet (Bcf), up by 42 Bcf from the previous week and 158 Bcf (4.1 percent) higher than last year. While storage is still 6.1 percent (228 Bcf) above the five-year average and has increased from the week before, it has been slowly declining throughout the summer and fall. The U.S. ended last year's heating season 38.4 percent above the five-year average mainly due to a warmer than normal winter.
Natural gas rigs in the U.S. have been declining this year as producers work to align production levels with prices. Although there was no change in rigs from the week of November 11th, this still reflects a significant drop of 13.6 percent compared to last year. This reduction indicates producers' efforts to stabilize the market amidst fluctuating demand and prices.
Looking Forward
Recently, the U.S. faced two significant hurricanes—Milton and Helene. Hurricane Helene disrupted natural gas production and caused power outages, while Hurricane Milton had a smaller impact on liquefied natural gas (LNG) facilities but still affected natural gas demand in the Southeast. Although hurricane season is nearly over, we are preparing for the possibility of winter storms with one expected to hit before Thanksgiving. This upcoming storm will mainly affect the eastern side of the U.S. with strong winds and cold air across the Appalachian Mountains. As always weather is one of our largest variables in the natural gas market, if we have a cooler than normal winter, we can see prices climb.
Missouri School Board Association
As the supplier of the MSBA Natural Gas Consortium, we hope you found this newsletter helpful and informative.
If you have any questions about your natural gas or the market, please contact Alan Pederson at 402-915-8378 and alan.pederson@woodriverenergy.com.
CUSTOMER CARE: Adding or removing contacts
PHONE: 720-617-1286
EMAIL: customercare@woodriverenergy.com
ACCOUNTING: Questions on invoices & payments
PHONE: 720-439-6514
EMAIL: AR@woodriverenergy.com
November 19, 2024
MSBA Newsletter Q4 2024 Energy News
As winter approaches, the U.S. is bracing for the impacts of La Niña. Typically, this pattern brings colder, snowier weather to the northern states and warmer-than-normal temperatures to the southern states. Still, this year's La Niña could impact the demand for natural gas.
Production and Demand
As temperatures drop across the U.S., natural gas demand had a slight tick upwards. While total consumption is up 4.9 percent compared to the week of November 4th, it still remains 1.2 percent lower from last year. The increase was driven by power generation, which rose 2.3 percent. However, the biggest growth was in the residential and commercial sectors, which saw a 23.8 percent increase.
As of Monday, November 11, 2024, natural gas storage reached 3,974 Billion cubic feet (Bcf), up by 42 Bcf from the previous week and 158 Bcf (4.1 percent) higher than last year. While storage is still 6.1 percent (228 Bcf) above the five-year average and has increased from the week before, it has been slowly declining throughout the summer and fall. The U.S. ended last year's heating season 38.4 percent above the five-year average mainly due to a warmer than normal winter.
Natural gas rigs in the U.S. have been declining this year as producers work to align production levels with prices. Although there was no change in rigs from the week of November 11th, this still reflects a significant drop of 13.6 percent compared to last year. This reduction indicates producers' efforts to stabilize the market amidst fluctuating demand and prices.
Looking Forward
Recently, the U.S. faced two significant hurricanes—Milton and Helene. Hurricane Helene disrupted natural gas production and caused power outages, while Hurricane Milton had a smaller impact on liquefied natural gas (LNG) facilities but still affected natural gas demand in the Southeast. Although hurricane season is nearly over, we are preparing for the possibility of winter storms with one expected to hit before Thanksgiving. This upcoming storm will mainly affect the eastern side of the U.S. with strong winds and cold air across the Appalachian Mountains. As always weather is one of our largest variables in the natural gas market, if we have a cooler than normal winter, we can see prices climb.
Missouri School Board Association
As the supplier of the MSBA Natural Gas Consortium, we hope you found this newsletter helpful and informative.
If you have any questions about your natural gas or the market, please contact Alan Pederson at 402-915-8378 and alan.pederson@woodriverenergy.com.
CUSTOMER CARE: Adding or removing contacts
PHONE: 720-617-1286
EMAIL: customercare@woodriverenergy.com
ACCOUNTING: Questions on invoices & payments
PHONE: 720-439-6514
EMAIL: AR@woodriverenergy.com
November 19, 2024
MSBA Newsletter Q4 2024 Energy News
As winter approaches, the U.S. is bracing for the impacts of La Niña. Typically, this pattern brings colder, snowier weather to the northern states and warmer-than-normal temperatures to the southern states. Still, this year's La Niña could impact the demand for natural gas.
Production and Demand
As temperatures drop across the U.S., natural gas demand had a slight tick upwards. While total consumption is up 4.9 percent compared to the week of November 4th, it still remains 1.2 percent lower from last year. The increase was driven by power generation, which rose 2.3 percent. However, the biggest growth was in the residential and commercial sectors, which saw a 23.8 percent increase.
As of Monday, November 11, 2024, natural gas storage reached 3,974 Billion cubic feet (Bcf), up by 42 Bcf from the previous week and 158 Bcf (4.1 percent) higher than last year. While storage is still 6.1 percent (228 Bcf) above the five-year average and has increased from the week before, it has been slowly declining throughout the summer and fall. The U.S. ended last year's heating season 38.4 percent above the five-year average mainly due to a warmer than normal winter.
Natural gas rigs in the U.S. have been declining this year as producers work to align production levels with prices. Although there was no change in rigs from the week of November 11th, this still reflects a significant drop of 13.6 percent compared to last year. This reduction indicates producers' efforts to stabilize the market amidst fluctuating demand and prices.
Looking Forward
Recently, the U.S. faced two significant hurricanes—Milton and Helene. Hurricane Helene disrupted natural gas production and caused power outages, while Hurricane Milton had a smaller impact on liquefied natural gas (LNG) facilities but still affected natural gas demand in the Southeast. Although hurricane season is nearly over, we are preparing for the possibility of winter storms with one expected to hit before Thanksgiving. This upcoming storm will mainly affect the eastern side of the U.S. with strong winds and cold air across the Appalachian Mountains. As always weather is one of our largest variables in the natural gas market, if we have a cooler than normal winter, we can see prices climb.
Missouri School Board Association
As the supplier of the MSBA Natural Gas Consortium, we hope you found this newsletter helpful and informative.
If you have any questions about your natural gas or the market, please contact Alan Pederson at 402-915-8378 and alan.pederson@woodriverenergy.com.
CUSTOMER CARE: Adding or removing contacts
PHONE: 720-617-1286
EMAIL: customercare@woodriverenergy.com
ACCOUNTING: Questions on invoices & payments
PHONE: 720-439-6514
EMAIL: AR@woodriverenergy.com
November 19, 2024
MSBA Newsletter Q4 2024 Energy News
As winter approaches, the U.S. is bracing for the impacts of La Niña. Typically, this pattern brings colder, snowier weather to the northern states and warmer-than-normal temperatures to the southern states. Still, this year's La Niña could impact the demand for natural gas.
Production and Demand
As temperatures drop across the U.S., natural gas demand had a slight tick upwards. While total consumption is up 4.9 percent compared to the week of November 4th, it still remains 1.2 percent lower from last year. The increase was driven by power generation, which rose 2.3 percent. However, the biggest growth was in the residential and commercial sectors, which saw a 23.8 percent increase.
As of Monday, November 11, 2024, natural gas storage reached 3,974 Billion cubic feet (Bcf), up by 42 Bcf from the previous week and 158 Bcf (4.1 percent) higher than last year. While storage is still 6.1 percent (228 Bcf) above the five-year average and has increased from the week before, it has been slowly declining throughout the summer and fall. The U.S. ended last year's heating season 38.4 percent above the five-year average mainly due to a warmer than normal winter.
Natural gas rigs in the U.S. have been declining this year as producers work to align production levels with prices. Although there was no change in rigs from the week of November 11th, this still reflects a significant drop of 13.6 percent compared to last year. This reduction indicates producers' efforts to stabilize the market amidst fluctuating demand and prices.
Looking Forward
Recently, the U.S. faced two significant hurricanes—Milton and Helene. Hurricane Helene disrupted natural gas production and caused power outages, while Hurricane Milton had a smaller impact on liquefied natural gas (LNG) facilities but still affected natural gas demand in the Southeast. Although hurricane season is nearly over, we are preparing for the possibility of winter storms with one expected to hit before Thanksgiving. This upcoming storm will mainly affect the eastern side of the U.S. with strong winds and cold air across the Appalachian Mountains. As always weather is one of our largest variables in the natural gas market, if we have a cooler than normal winter, we can see prices climb.
Missouri School Board Association
As the supplier of the MSBA Natural Gas Consortium, we hope you found this newsletter helpful and informative.
If you have any questions about your natural gas or the market, please contact Alan Pederson at 402-915-8378 and alan.pederson@woodriverenergy.com.
CUSTOMER CARE: Adding or removing contacts
PHONE: 720-617-1286
EMAIL: customercare@woodriverenergy.com
ACCOUNTING: Questions on invoices & payments
PHONE: 720-439-6514
EMAIL: AR@woodriverenergy.com
November 19, 2024
MSBA Newsletter Q4 2024 Energy News
As winter approaches, the U.S. is bracing for the impacts of La Niña. Typically, this pattern brings colder, snowier weather to the northern states and warmer-than-normal temperatures to the southern states. Still, this year's La Niña could impact the demand for natural gas.
Production and Demand
As temperatures drop across the U.S., natural gas demand had a slight tick upwards. While total consumption is up 4.9 percent compared to the week of November 4th, it still remains 1.2 percent lower from last year. The increase was driven by power generation, which rose 2.3 percent. However, the biggest growth was in the residential and commercial sectors, which saw a 23.8 percent increase.
As of Monday, November 11, 2024, natural gas storage reached 3,974 Billion cubic feet (Bcf), up by 42 Bcf from the previous week and 158 Bcf (4.1 percent) higher than last year. While storage is still 6.1 percent (228 Bcf) above the five-year average and has increased from the week before, it has been slowly declining throughout the summer and fall. The U.S. ended last year's heating season 38.4 percent above the five-year average mainly due to a warmer than normal winter.
Natural gas rigs in the U.S. have been declining this year as producers work to align production levels with prices. Although there was no change in rigs from the week of November 11th, this still reflects a significant drop of 13.6 percent compared to last year. This reduction indicates producers' efforts to stabilize the market amidst fluctuating demand and prices.
Looking Forward
Recently, the U.S. faced two significant hurricanes—Milton and Helene. Hurricane Helene disrupted natural gas production and caused power outages, while Hurricane Milton had a smaller impact on liquefied natural gas (LNG) facilities but still affected natural gas demand in the Southeast. Although hurricane season is nearly over, we are preparing for the possibility of winter storms with one expected to hit before Thanksgiving. This upcoming storm will mainly affect the eastern side of the U.S. with strong winds and cold air across the Appalachian Mountains. As always weather is one of our largest variables in the natural gas market, if we have a cooler than normal winter, we can see prices climb.
Missouri School Board Association
As the supplier of the MSBA Natural Gas Consortium, we hope you found this newsletter helpful and informative.
If you have any questions about your natural gas or the market, please contact Alan Pederson at 402-915-8378 and alan.pederson@woodriverenergy.com.
CUSTOMER CARE: Adding or removing contacts
PHONE: 720-617-1286
EMAIL: customercare@woodriverenergy.com
ACCOUNTING: Questions on invoices & payments
PHONE: 720-439-6514
EMAIL: AR@woodriverenergy.com
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