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WEATHER
US cooling demand for the week ending Aug. 31 is forecast to be 32 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 E N Central, 59 CDD above average, E S Central, 42 CDD above average, and Middle Atlantic, 28 CDD above average.
- In terms of states with the greatest deviations, Iowa is forecast to be 71 CDD above average, followed by Nebraska at +70 CDD above normal and Missouri at +67 CDD above average.
- This week’s total forecast for CDD is 87, compared to a normal of 55 and up from the actual figure of 53 from last week.
- During the week to Aug. 24, the US was 10 CDD below normal.
- Texas remained the state with the highest total CDD at 155 CDD, 33 above normal.
- Maryland was the state with the highest deviation below normal, 30 CDD below average at 30 CDD.
- 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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