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COM - Natural Gas Storage: Annual 'Surplus' Continues To Shrink
Direxion Auspice Broad Commodity Strategy
The Weather
Last week
Last week (ending July 3), the number of cooling degree days (CDDs) increased by 10.3% w-o-w (from 81 to 89). However, we estimate that total energy demand (as measured in total degree days, or TDDs) was 4.3% below last year's level but as much as 10.8% above the 30-year average.
This week
This week (ending July 10), the weather conditions continue to warm up. We estimate that the number of nationwide CDDs will rise by 12.7% w-o-w (from 89 to 100). Total average daily consumption of natural gas (in contiguous United