Frigid This Week Eases for Next Week. But Cold to Return March 16-22

Written by on March 8, 2019 in NatGasWeather - No comments

March 8, 2019: Going into the weekend break, the overnight GFS and European models were very similar for the next 15-days. The image shows daily forecast national heating degree days (HDD’s) through March 23rd with both in sync with swings in demand this weekend through next week, then solidly cool to cold for much of the country March 16-22 for strong national demand. While weather pattern continue to show a modestly bullish pattern, prices are a mere 1-2 cents higher on the week, even though deficits will be increasing to over -600 Bcf after the next couple EIA reports are accounts for, potentially increasing towards -700 Bcf if cold can hold through the end of the month. It’s certainly problematic for the bullish case if deficits increase to -600-700 Bcf and prices can’t take out $3.

Swings in demand through next week, then cool to cold versus normal over much of the country March 16-21.

Much milder conditions this weekend with 70 and 80s across the southern US and 40s to 60s across the Northeast and Mid-Atlantic for lighter national demand.

 

Cold returns across much of the country March 16-21 for strong national demand.

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