CPC/NOAA 6-10 Day Outlook

  Dec 18-24:  Cool air will impact the Northeast into Wednesday with chilly lows of 10s to 30F. The rest of the US will be quite mild with highs of 40s to 50s across the North, with 60s and 70s across the South. A strong weather system will track across the southern US and up the East Coast Thu-Sat with rain and snow, just not very cold. High pressure will dominate most of the country with above normal temperatures late this weekend into next week, while the West will see weather systems with valley rains & mountain snows for a mix of mild and cool days. Overall, national demand will be LOW.

Dec 13:  Today’s EIA weekly nat gas storage report printed a draw in supplies of -77 Bcf vs the 5-year average of -79 Bcf and slightly under national surveys of -79 to -85 Bcf.  We were too large with our draw, expecting  it to come in near -87 Bcf, but still a nice streak of being to the correct side of market expectations 14 of the past 17 weeks.  The -77 Bcf draw reduces supplies to 2,914 Bcf, which is -722 Bcf below than the 5-year average, and -723 Bcf less then this time last year.  Next week’s draw will be much larger, but will be tough to exceed a hefty 5-year average of -144 Bcf.

 
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