Oct. 11 (Bloomberg) -- The U.S. Northeast may cool just enough to produce an “above-normal” demand for natural gas and heating oil in about two weeks, said Matt Rogers, president of Commodity Weather Group LLC.
In his 11- to 15-day forecast for Oct. 21 to Oct. 25, Rogers predicts the mid-Atlantic, Northeast and eastern Canada will all be cooler than normal while the Great Plains region will be warmer.
“This should provide above-normal early season heating demand, but no major chill is expected,” Rogers said today in a note to clients.
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.
In his 6- to 10-day outlook for Oct. 16 to Oct. 20, Rogers, based in Bethesda, Maryland, predicts the Northeast and southwestern U.S. will be about 3 degrees Fahrenheit (1.6 Celsius) warmer than normal.
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