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WEEKLY MARKET UPDATE
November 15, 2018
Natural Gas

More volatility this week in natural gas futures for this winter. The December 2018 contract rose more than $1/MMBtu through Wednesday this week to the highest levels in nearly 5 years.

Today the market is responding to the largest upward movement in years with the largest downward movement in years. Paired with a larger than expected storage injection, December 2018 contracts are down over 70 cents today.
Electricity

Real time power prices are beginning to rise with the high natural gas prices we're seeing. The 30 day average is up more than $1.50/MWh from last week now just below $30.

Electricity futures continue to follow the natural gas market. The 12 month strip now sits just below $36/MWh, over $3 higher than just two weeks ago and the highest it has been since December of 2016
 
 
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.
 
Gas for December delivery surged 18 percent to settle at $4.837 per million British thermal units on Wednesday, the highest since the "polar vortex" of early 2014 that spread an Arctic chill to the Midwest and East. The volume of trading on the New York Mercantile Exchange was was nearly triple the 100-day average.
It was only on Tuesday that gas exceeded the $4 mark for the first time in four years. The fuel surged this month amid concern that stockpiles, at a 15-year seasonal low, won’t be enough to help meet winter heating needs, even as production hovers near a record. In North America, gas stowed in underground aquifers and salt caverns in summer months is used to supplement supplies pumped from wells during winter.

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

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