When you linking your Twitter Account Market Wire News Trending Stocks news and your Portfolio Stocks News will automatically tweet from your Twitter account.
Be alerted of any news about your stocks and see what other stocks are trending.
UNG - The Price For Natural Gas Drops As Short-Range Weather Models Turn Bearish
United States Natural Gas Fund LP
THE WEATHER
Last week, the number of heating degree-days (HDDs) jumped by 19.0% w-o-w and was up 39% y-o-y. We estimate that total energy demand (as measured in total degree-days – TDDs) was approximately 41% above last year’s level.
This week, the weather conditions have warmed up significantly across the U.S. A drop in heating demand was especially pronounced in the Midwest and Northeast parts of the country. We estimate that the number of nation-wide HDDs will plunge by no less than 40.0% w-o-w in the week ending March 15. However, because the number of