GAZB - Natural Gas Annual Storage 'Surplus' Is Projected To Shrink By More Than 150 Bcf Over The Next 3 Weeks
The Weather
Last week
Last week (ending December 13), the number of heating degree days (HDDs) edged up by 4.2% w-o-w (from 155 to 162). Cooling demand remains too weak to have a meaningful impact on natural gas consumption. Despite higher HDDs, we estimate that total energy demand (as measured in total degree days, or TDDs) was approximately 9.7% below last year's level and 7.6% below the norm.
This week
This week (ending December 20), the weather conditions are getting colder. We estimate that the number of nationwide HDDs will jump by 21.7% w-o-w (from