CPC/NOAA 6-10 Day Outlook

  Oct 14-20:   High pressure will rule the southern US to open the week with highs of 70s and 80s, locally 90s. A weak weather system will provide a glancing cool shot across the far northern US Monday, followed by a stronger cool shot mid-week that tracks out of the Rockies and Plains with lows of 20s & 30s for stronger demand. This system will also cool portions of Texas and the South mid-week. The West will see a mix of weather systems and warm breaks with highs in the 50s and 60s north and 70s to lower 90s over California and the Southwest. Overall, stronger demand this week compared to last week due to stronger northern US cooling.

 
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October 10:  Today’s EIA weekly nat gas storage report printed a build of +112 Bcf, larger than market expectations of 106-108 Bcf.   We were near exact with out +111 Bcf call.  The build increased supplies to 3,415 Bcf, which is now only 9 Bcf below the 5-year average.  Next week’s build is expected to also be larger than normal and the week deficits will officially flip to surpluses in the accounting books.