UGAZ - February 14 2019 Natural Gas Storage Report: Tighter Balance And Growing Storage Deficit
THE WEATHER
Last week, the number of heating degree-days (HDDs) plunged by 35.0% w-o-w and by almost 20% y-o-y. We estimate that total energy demand (as measured in total degree-days — TDDs) was approximately 18% below last year’s level.
This week, the weather conditions have cooled down sharply across the country. An increase in heating demand was especially pronounced in Central and Western parts of the U.S. We estimate that the number of HDDs will rise by around 18.0% w-o-w in the week ending February 15. Because HDDs are rising from a relatively high base,