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WEEKLY MARKET UPDATE
February 14, 2019
Natural Gas

March 2019 futures contracts are down around 9 cents from last week to $2.575/MMBtu. The 12 month strip is also down roughly 3 cents to $2.796/MMBtu.

This morning the EIA announced a withdrawal of 78 Bcf. This lowers total gas in storage to 1,882 Bcf, just 30 Bcf below last year's level.
Electricity

Real time power prices have been cheap as we separate ourselves from the polar vortex. The 30 day average is down over $3 from last week to $32.06/MWh.

Electricity futures ticked up slightly due to natural gas's rise to start the week. Overall the 12 month strip is only up about 25 cents from 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.
 
The U.S. Energy Information Administration has recently released their natural gas monthly statistics for November 2018.
  • Natural gas consumption for November was the highest level for the month since 2001 when EIA began using the current definitions for consuming sectors.
November was the 19th consecutive month that industrial deliveries set a new monthly high.
Natural gas exports were the highest for any month since EIA began tracking monthly exports in 1973.
In February and in March, total supply will be growing slower (on an annualized basis) than total demand ensuring that total supply-demand balance will be tighter relative to 2018.

Aggregate demand (national consumption + exports) for American natural gas increased by 14.2%     y-o-y in November 2018 to 100.49 bcf/d. Consumption jumped by 13.90% y-o-y to 89.27 bcf/d, while exports surged by 16.68% y-o-y to 11.21 bcf/d, setting a new monthly record.

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

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