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WEEKLY MARKET UPDATE
November 19, 2020
Natural Gas

Plenty of downward momentum in natural gas this week on expectations of warmer temperatures. The 12 month strip is down nearly 40 cents from Friday.

This week's storage report showed a much larger injection than anticipated, adding to the momentum downward. Total gas in storage is now 6% ahead of the 5 year average.
Electricity

Real time power prices have trended lower in the last 2 weeks, the 30 day average has fallen over $2.50/MWh since November 5th.

Electric futures have had big swings in both directions for a couple weeks, overall seeming to trend downward with gas. The 12 month strip is down to $29.17/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.
The amount of working natural gas in storage in the United States ended the natural gas injection, or refill, season (April 1–October 31) at 3,920 billion cubic feet (Bcf), according to interpolated data from the U.S. Energy Information Administration’s (EIA) Weekly Natural Gas Storage Report released on November 13. The amount of natural gas held in underground storage in the Lower 48 states is now near the record-high value, 4,047 Bcf, reached in mid-November 2016.
U.S. natural gas inventories climbed quickly in the spring and early summer. By the week of August 7, inventories exceeded the upper bound of the previous five-year range (the lowest to the highest levels) for that time of year. Since then, the pace of weekly injections has slowed because of slowing natural gas production throughout 2020 and relatively steady natural gas demand.

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

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