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AMERICAS OIL: US Weather Demand Moderating, Heating Demand Likely Below Normal

AMERICAS OIL
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US Weather Demand Moderating, Heating Demand Likely Below Normal This Week 

  • Most of the country is expected to see seasonal or warmer-than-normal temperatures this week, keeping a lid on heating fuel demand
  • The 6-10-day outlook is net bearish, with above-normal conditions expected in the Southeast and mid-Atlantic regions while the far Northwest is below normal.
  • The 8-14-day outlook is very similar, with the same patterns in place as in the 6-10 day, pointing to continued weak heating demand.
  • ULSD Feb futures are down 2.1% at 2.46$/gal
  • US Henry Hub Nat gas futures are down 7.3% at 3.73$/mmbtu 
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US Weather Demand Moderating, Heating Demand Likely Below Normal This Week 

  • Most of the country is expected to see seasonal or warmer-than-normal temperatures this week, keeping a lid on heating fuel demand
  • The 6-10-day outlook is net bearish, with above-normal conditions expected in the Southeast and mid-Atlantic regions while the far Northwest is below normal.
  • The 8-14-day outlook is very similar, with the same patterns in place as in the 6-10 day, pointing to continued weak heating demand.
  • ULSD Feb futures are down 2.1% at 2.46$/gal
  • US Henry Hub Nat gas futures are down 7.3% at 3.73$/mmbtu