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First Notice: S&P predictions on gas; U.S. construction job stats

DCN-JOC News Services
First Notice: S&P predictions on gas; U.S. construction job stats

S&P predicts high gas inventories during warm winter

With temperatures hovering above normal for this time of year S&P Global Platts is predicting a decrease in demand and less likelihood of drawing down Western Canada’s extensive storage inventory. In the short term, temperatures are forecast to be about seven degrees warmer than the 10-year average through Jan. 20, likely leading to lower demand and storage withdrawals, a Platts Analytics release stated.

U.S. construction jobs rise in December

The Associated General Contractors of America reported today that U.S. construction employment increased by 51,000 jobs in December, with gains for nonresidential as well as residential contractors, according to an analysis of government data. Construction employment climbed to 7,413,000 in December, an increase of 0.7 per cent compared to November. However, employment in the sector remains down by 226,000 or 3.0 per cent since the most recent peak in February. Association officials cautioned, however, that its latest survey shows widespread pessimism among contractors about the volume of work available in 2021.

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