East Coast Cold Snap May Boost Use of Heating Fuels, Rogers Says
A cold snap in the eastern U.S. starting at the end of the week may mean “above normal heating demand,” said Matt Rogers, president of Commodity Weather Group LLC.
Weather cooler than last year at this time will blanket much of the East where lows of 30 to 40 degree Fahrenheit (minus 1 to 4 degrees Celsius) can be expected from Oct. 29 to Nov. 2, Rogers said in a note to clients.
“The models are still in excellent agreement on a widespread cool-to-cold push later this week,” Rogers said from his office in Bethesda, Maryland.
Traders use long-range temperature predictions to gauge energy use and market fluctuations. Hot or cold weather can increase demand for heating and cooling, and power plants use about 30 percent of the nation’s gas supplies, according to Energy Department data.
Rogers’s 11- to 15-day outlook covering Nov. 3 to Nov. 7 calls for the northern U.S. to be cooler than normal with cool temperatures reaching down the East Coast to South Carolina.
To contact the reporter on this story: Brian K. Sullivan in Boston at bsullivan10@bloomberg.net
To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net
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