US natural gas supplies are still constrained after wells and pipes froze due to extreme cold, while some recovery seems to be underway.
Production of the heating and power-generation fuel on Monday is seen reaching 90 billion cubic feet, roughly 10% below normal, according to BloombergNEF estimates based on early pipeline schedules.
Output dropped as low as 84.2 billion cubic feet on Dec. 24, and saw little improvement on Sunday, with utilities from Texas to New York City urging customers to conserve power to protect supply.
Temperatures in Midland, Texas, a key producing region, are seen climbing as high as 59F (15C) this afternoon, while the Northeast should continue to see below-freezing conditions at least until Tuesday, according to the Weather Channel.
©2022 Bloomberg L.P.
