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US cooling demand for the week ending July 6 is forecast to be 17 cooling degree days (CDD) above the long-term normal, according to Bloomberg, citing the NOAA.
- The regions with the largest deviation from the normal are the Pacific, 37 CDD above average, Mountain, 22 CDD above average, and W S Central, 30 CDD above average.
- In terms of states with the greatest deviations, California is forecast to be +40 CDD above average, followed by Nevada at +37 CDD above normal and Texas at +34 CDD above average.
- This week’s total forecast for CDD is 84, up from the actual figure of 79 from last week.
- During the week to June 29, the US was 18 CDD above normal, below the previous forecast of 24 CDD.
- The state with the highest total CDD last week was Arizona at 156 CDD, 18 above normal. This was followed by Texas at 140 CDD, 23 above the long-term average.
- CDD measures the number of degrees that the mean daily temperature is above 65 degrees Fahrenheit, summed across an entire week. Greater values signify higher heating demand.
Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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