Summer CDD’s Running 10% Hotter vs Normal, Yet Surpluses Haven’t Improved

Written by on August 11, 2020 in NatGasWeather - No comments

Tuesday, August 11:  While a hotter than normal summer continues, surpluses in supplies continue remain hefty at over +400 Bcf.  In fact, national daily accumulated CDD’s since June 1 are running 10% greater/hotter versus normal, yet surpluses haven’t improved a single Bcf so far this summer, highlighting an oversupplied market continues.  So, clearly, last week’s rally was on forward expectations of a much tighter balance in time.

 

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