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GAZB - Natural Gas Market: Total Demand Is Projected To Reach A 'Seasonal Low' Within The Next 10 Days
Barclays Bank PLC
The Weather
Last week
Last week (ending May 8), the number of heating degree days (HDDs) increased by 7.5% w-o-w (from 49 to 52), while the number of cooling degree days (CDDs) increased by as much as 42% (from 20 to 28). We estimate that total energy demand (as measured in total degree days, or TDDs) was 33% above last year's level and 27% above the 30-year average.
This week
This week (ending May 15), the weather is cooling down. We estimate that the number of nationwide HDDs will increase by 9.2% w-o-w (from 52