Very Light Demand Next 7-Days. Stronger Demand April 11-18.

Written by on April 4, 2019 in NatGasWeather - No comments

 

Thursday, April 4:  An exceptionally comfortable US pattern remains on tap late this week through early next week where national demand will be extremely light for this time of the year due to widespread highs of 60s to 80s, including near 70°F from Chicago to NYC.  This period of very light demand will end late next week as weather systems over the western US spreads across the central and northern US with cooler than normal temperatures. This will open the door for a series of systems for mid-April and where the latest data says this very active pattern could last thorough the end of the month. It’s far from a frigid mid-April pattern, but still should bring enough cooling across the northern US where demand should be closer to normal, if not slightly stronger than normal for a few days. So, while the April 11-18th period has added demand since late last week, the nat gas markets haven’t shown concerns with April HH prices again testing lows of the year yesterday. Of course, lower 48-state production setting fresh records over the past week hasn’t helped the bullish case. No change overall with the next three EIA report expected to show larger than normal builds, although with the mid-April pattern having steadily trended cooler, more seasonal builds should be expected after.

Temperatures vs normal next 7-days. Quite bearish with very light demand.

 

Cooler weather systems across the western and northern US April 11-18.

 

Our Live HDD/CDD from the CFS 45-day forecast shows warm, cool, and then near normal through mid-May.

 

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