18 March 2020
- Our proprietary Implied Forward Supply indicator. Since approximately week 4 2020, the implied forward supply, which looks at month-on-month supply values and projections, has been increasing. Our Interconnector Flow variable has shown an increase in flow since week 11. However, our Storage Injections variable shows destocking occurring at greater-than-normal rates.
- Our Implied Spot Demand variable which shows spot demand has been increasing since week 9. It also projects this trend to continue into week 13. However, both our short-term and medium-term implied forward demand indicators suggest a decrease on demand. This is because these indicators are influenced by the short and medium-term weather forecasts, both of which predict mild weather for the US. Moreover, our Export Demand Pressure variable shows an increase in LNG exports on last weeks.
- Our short-term Macroeconomic Conditions indicator shows a decrease since week 10. Our Money Flow Index has been increasing since 9 but the rate of increase has slowed since week 11. Furthermore, our Implied Energy Intensity has remained stable since last week and this is projected to continue into week 13.