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April 18, 2019
Natural Gas

Natural gas prices continue to fall as more warm weather is expected for much of the east coast. Trading of May futures will end next Friday, currently May is looking to be one of the lowest settles since 2016.

Today the EIA announced an injection of 92 Bcf of gas into storage, moving total gas in storage to only 57 Bcf behind last year.

Real time power prices have continued to stay low for the past several weeks. The 30 day average continues to trickle down, now $25.95.

A drop in electric futures this week to accompany the drop in natural gas brought both the 12 and 24 month strip down by around $1/MWh. The 12 month strip is now down to $33.57/MWh.
12 & 24 Month NYMEX Strip
12 & 24 Month Zone A Power Strip
This document is intended for indicative purposes only. All information contained within this report is acquired from third party sources and EnergyMark makes no representations or warranties, express or implied, as to the accuracy of the information provided herein. EnergyMark is not liable for any actions or decisions made in reliance on the information provided in the report.
Working natural gas in storage in the Lower 48 states as of March 31, the traditional end of the heating season (November 1–March 31), totaled 1,137 billion cubic feet (Bcf) according to EIA’s Weekly Natural Gas Storage Report released on April 11. As of March 31, working natural gas stocks were 491 Bcf (30%) lower than the five-year (2014–18) average for the end of the heating season. This heating season ended at the lowest level for working natural gas stocks since 2014, when working natural gas stocks totaled 837 Bcf. Last year, working natural gas stocks ended the winter at 1,360 Bcf.
Working natural gas stocks totaled 3,198 Bcf entering the winter heating season in November 2018—their lowest levels since 2005―and declined during the winter at a rate consistent with historical trends. Net withdrawals from storage during the 2018―19 heating season were 2,061 Bcf—5% below the five-year average for the season. The 2018–19 U.S. heating season was characterized by periods of significantly colder-than-normal temperatures—particularly in the Upper Midwest—that resulted in substantial natural gas storage withdrawals, as well as periods of lower-than-average withdrawals from storage.

Read the full article here
NOAA 8-14 Day Outlook
NOAA 30 Day Outlook

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