All forward electric markets saw a steep move up this past week.
Warmer than normal temperatures over the week brought on higher electric rates and more volatility.
Natural Gas Markets
NYMEX continues to remain elevated compared to last year’s rates.
.Futures as of 6/9/2021 versus previous week:
Natural Gas Inventory
As of Friday, June 4, 2021 working gas in storage was 2,411 Bcf. According to EIA estimates this represents a net increase of 98 Bcf from the previous week.
The Baker Hughes exploration gas count is down 1 from the previous week for a total of 96 rigs. This is 20 more rigs than the 76 in operation at this time one year ago.
The east coast is predicted to have colder than normal temperatures for the upcoming week versus the west coast which will be experiencing an extreme heat.