Mild and Rainy Week Ahead for U.S. East Coast

Mild and rainy weather is expected to wash across the Northeast this week, which may mean less energy is needed for heating homes and businesses.

New York’s high temperature may reach 56 degrees Fahrenheit (13 Celsius) tomorrow, 13 above normal, and 57 the day after, according to the National Weather Service in Upton, New York. The chance of rain will grow as the week goes on.

Temperatures in the Northeast may be 8 degrees above normal, said Matt Rogers, president of Commodity Weather Group LLC in Bethesda, Maryland. For the eastern U.S. as whole, temperatures may be 5 degrees higher than normal.

Traders watch temperature predictions and heating degree days values to gauge energy use and demand. About 51 percent of U.S. households use natural gas for heating, according to the Energy Department.

The heating degree days value in the six New England states is expected to be 189 this week, or 65 below normal and 85 lower than a year ago, according to the U.S. Climate Prediction Center in Camp Springs, Maryland.

Degree days values are calculated by subtracting the daily average temperature from a base of 65 degrees to show energy demand. Higher values mean more energy being used for heating.

The forecast value in the mid-Atlantic region, which includes New York, is 185, or 50 lower than normal and 66 below a year ago, according to the climate center.

The high in Washington may reach 72 the day after tomorrow with a slight chance of showers, the weather service said.

Chicago is expected to have light snow and rain this week. The city’s high temperature for the week is expected to be 46 tomorrow, 6 above normal, according to the weather service in Romeoville, Illinois.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE