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MLPG - Natural Gas Market: The Latest Weather Forecast Looks Bearish For The Forward Curve
UBS AG Jersey FR SP REDEEM 09/07/2040 USD 25 - 902641620
The Weather
Last week
Last week (ending September 11), the number of cooling degree days (CDDs) dropped by 14.6% w-o-w (from 77 to 66). We estimate that total "energy demand" (as measured in total degree days, or TDDs) was 2.2% below last year's level but as much as 17.5% above the 30-year average.
This week
This week (ending September 18), the weather conditions have cooled down substantially across the contiguous United States. We estimate that the number of nationwide CDDs will drop by 15.2% w-o-w (from 66 to 56). At the same time, the number