Forward electric markets continue to trend up with the increase demand on the grids.
A mix of temperatures were seen over the week, but the warm days held electric rates on the higher end.
Natural Gas Markets
The remaining NYMEX months of 2021 continue to stay elevated.
Futures as of 6/23/2021 versus previous week:
Natural Gas Inventory
As of Friday, June 18, 2021 working gas in storage was 2,482 Bcf. According to EIA estimates this represents a net increase of 55 Bcf from the previous week.
The Baker Hughes exploration gas count is up 1 from the previous week for a total of 98 rigs. This is 23 more rigs than the 75 in operation at this time one year ago.
Extreme heat is expected in the Northwest this week with much cooler temperatures for the Midwest.
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.
US natural gas production estimates dip below 90 Bcf/d amid growing supply concerns US natural gas production on June 15 was estimated at its lowest level since this winter’s historic freeze, underscoring recent supply weakness as the market enters its peak-demand period of summer. If you would like to receive the Energy Market Update to your inbox weekly, please click here to submit your name and email address. 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.