GAZB - Natural Gas Storage: EIA Should Report A Large Change In Natural Gas Stocks
The Weather
Last week
Last week (ending January 24), the number of heating degree days (HDDs) surged by 25.0% w-o-w (from 158 to 198). However, we estimate that total energy demand (as measured in total degree days, or TDDs) was approximately 12.0% below last year's level and 1.5% below the 30-year norm. Cooling demand remained too weak to have a meaningful impact on natural gas consumption.
This week
This week (ending January 31), the weather conditions got significantly warmer. We estimate that the number of nationwide HDDs will drop by about 17.0% w-o-w (from 198