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MLPG - Natural Gas Storage Forecast: Annual Surplus Can Grow By More Than 150 Bcf Over The Next 4 Weeks
UBS AG Jersey FR SP REDEEM 09/07/2040 USD 25 - 902641620
The Weather
Last week
Last week (ending September 27), the number of cooling degree-days (CDDs) dropped by approximately 4.9% w-o-w (from 67 to 64), as weather conditions cooled down across the country. Heating demand has increased by 14.0% w-o-w but it remains too weak to have any significant impact on natural gas consumption. We estimate that total energy demand (as measured in total degree-days, or TDDs) was approximately 10.0% above last year's level and as much as 14.0% above the norm (see the chart below).
This week
This week, the weather conditions are cooling down