Forward pricing saw a slight move up across most markets in the past week but have been quiet from the highs we saw in February.
March was warmer than normal and with the recent weather, we have seen markets soften over the last week with little volatility.
Natural Gas Markets
Current NYMEX rates are in the low end of the normal range. There are some indications for lower natural gas pricing as we see an increase in production.
Futures as of 4/7/2021 versus previous week:
Natural Gas Inventory
As of Friday, April 2, 2021 working gas in storage was 1,784 Bcf. According to EIA estimates this represents a net increase of 20 Bcf from the previous week. We are now into injection season and gaining on the 5 year average.
The Baker Hughes exploration gas count was up 2 from the previous week for a total of 93 rigs. This is 3 fewer rigs than the 96 in operation at this time one year ago.
Colder than normal temperatures across most of the South, Mid-West and North East while the West coast is warmer than normal.
National Weather Service Updates (NOAA)
Hurricane Watch: No Hurricanes Click here to view the National Hurricane Center site.
Equatorial Pacific Outlook:
Click here to view La Nina and El Nino status.
News : US EIA raises gas demand forecast even as prices soften power-sector use The US Energy Information Administration April 6 bumped up its US natural gas consumption forecasts for the rest of 2021, even as it predicted a slight decline in average US gas demand in 2021 amid lower use of the fuel in the power sector.
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Disclaimer: This information is provided for the use of our customers and potential customers. Power Management Company assumes no responsibility or liability for the accuracy or completeness of pricing or information in this document. Historical data was obtained from sources that we believe to be reliable, but we do not guarantee its accuracy or completeness. It is not intended to provide advice or recommendation. Views are subject to change without notice.