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WEEKLY MARKET UPDATE
February 23, 2018
Natural Gas

March futures contracts rebounded this week after consecutive weeks of downward movement. The prompt month contract's final close will be on Monday.

Yesterday's slightly larger than anticipated storage withdrawal was not enough to keep March 2018 contracts from falling once again, down 2.5 cents on Thursday.
Electricity

The 30 day average price of power continues to fall with low real time power prices in the month of February, now less than half of where it was 3 weeks ago at $24.58/MWh.


The 12 and 24 month strip is at nearly the same level as last week, down only 2 and 1 cents per megawatt hour respectively.
 
 
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.
 
EIA projects that the United States will become a net energy exporter in 2022 in the newly released Annual Energy Outlook 2018 (AEO2018) Reference case, primarily driven by changes in petroleum and natural gas markets. The transition from net energy importer to net energy exporter occurs even earlier in some sensitivity cases that modify assumptions about oil prices or resource extraction. Sensitivity cases with less energy production project that the United States will remain a net energy importer through 2050.
In energy equivalent terms, the United States imported about 27 quadrillion British thermal units (quads) of energy in 2017 and exported 18 quads, which resulted in 9 quads of net imports.  U.S. natural gas trade in 2017 was nearly balanced between imports and exports, and net electricity trade with Canada and Mexico was relatively small. Petroleum and natural gas account for most of the changes EIA projects in U.S. energy trade.
The United States transitioned to a net exporter of natural gas in 2017, and all cases in the AEO2018 project the United States remains a net exporter of natural gas. Most of the differences between cases can be attributed to differences in projections for liquefied natural gas (LNG) trade as opposed to pipeline shipments of natural gas.

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

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