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UNG - Natural Gas Market: The Weather Conditions Are Expected To Cool Down Substantially
United States Natural Gas Fund LP
The Weather
Last week
Last week (ending September 4), the number of cooling degree days (CDDs) plunged by 22.8% w-o-w (from 100 to 77). We estimate that total energy demand (as measured in total degree days, or TDDs) was 6.8% below last year's level but 9.2% above the 30-year average.
This week
This week (ending September 11), the weather conditions have warmed up slightly across the contiguous United States. We estimate that the number of nationwide CDDs will edge up by 0.5% w-o-w (from 76.9 to 77.3). Total average daily consumption of natural gas (in