Volume 17, Issue 8 March 16, 2020
In this Issue
Editor's Note
March Temperatures Continuing This Winters Warm Pattern
Weather
Washington, D.C. Area Cooling/Heating Degree Days
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Editor's Note
March Temperatures Continuing This Winters Warm Pattern
Weekly review for March 7 - March 13, 2020
 
On Thursday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday, March 6, 2020 was 2,043 BCF.  This was a decrease of 48 BCF from the previous week and was a smaller withdrawal than what the market was expecting.  Storage levels are 796 BCF (63.8%) higher than a year ago, and 227 BCF (12.5%) higher than the 5 year average for this date.
  
Continuing the pattern from the rest of this winter, March temperatures in our region have been much warmer than the 30-year average.  For the first 12 days of March, temperatures as measured at Washington Reagan National Airport have been approximately 33% warmer than the 30-year average.  This pattern looks to continue, with the 6-10 day and 8-14 day outlooks from the National Weather Service both predicting warmer than normal temperatures for the Mid-Atlantic region.
 
Despite the smaller than expected storage withdrawal, and the continued warm temperatures in our region, prices were up this week.  At the end of the week, the NYMEX natural gas 12-month strip was up 4.7%, while the PJM West Hub 12-month forward curve was up 0.8%.  
 
 
This past week's market information is provided as a courtesy to our customers and is not indicative of, nor should be relied upon, as representative of future transactions.
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