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WEEKLY MARKET UPDATE
October 18, 2018
Natural Gas

Gas futures contracts continued to show strength this week until today as the November 2018 contract is down over 10 cents on the day.

Today's injection of 81 Bcf of gas into storage brought total gas in storage to 3,037 Bcf, closing the year over year gap to 601 Bcf.
Electricity

Continued low real time power prices have lowered the 30 day average over $6/MWh from last week. The lowest it has been in over 4 months.

Electric futures are remaining fairly steady. Both the 12 and 24 month strips moved less than 25 cents in the last week.
 
 
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.
 
In the first half of 2018, U.S. natural gas supply and demand grew significantly compared to the first half of 2017. According to EIA’s Natural Gas Monthly, natural gas consumption and exports averaged 93.4 billion cubic feet per day (Bcf/d) during the first half of 2018, or 12% greater than during the first half of 2017. Total supply of U.S. natural gas, including domestic production, imports, and storage withdrawals, averaged 93.3 Bcf/d during the first half of 2018, a 12% increase from the first half of 2017.
The increase in U.S. natural gas supply was driven by production, especially from the Appalachia region. Total U.S. dry natural gas production rose 7.4 Bcf/d (10%) compared to the same period last year. The additional pipeline capacity brought into service since June 2017 has enabled production increases, including the Leach XPress, the Rover Pipeline, and Phase 1 of Atlantic Sunrise, all of which transport natural gas out of the Northeast region.

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

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