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US cooling demand for the week ending Aug. 17 is forecast to be 7 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 W S Central, 32 CDD above average, Mountain, 24 CDD above average, and Pacific, 18 CDD below average.
- In terms of states with the greatest deviations, Texas is forecast to be 40 CDD above average, followed by New Mexico at 34 CDD above normal and Nevada at 31 CDD above average.
- This week’s total forecast for CDD is 75, compared to a normal of 68 and down from the actual figure of 79 from last week.
- During the week to Aug. 10 the US was 7 CDD above normal. This fell well below the forecast made Aug. 5 of total CDD being 19 above average.
- Arizona remained the state with the highest total CDD at 150 CDD, 5 above normal.
- 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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