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US cooling demand for the week ending June 29 is forecast to be 24 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 WS Central, 36 CDD above average, and Mountain, 33 CDD above average.
- In terms of states with the greatest deviations, Nebraska is forecast to be 43 CDD above average, followed by Nevada at +42 CDD above normal and Colorado at +39 CDD.
- During the week to June 22, the US was 20 CDD above normal.
- The state with the highest total CDD last week was Arizona at 129 CDD, 1 above normal. This was followed by Texas at 119 CDD, 8 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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