ISO-NE saw another bump up this week all other ISOs are down from the previous spike up that was seen a few weeks ago.
The weather was mixed this past week with some days colder than normal and others warmer than normal, and the daily markets reacted accordingly.
Natural Gas Markets
The first close of 2022 commenced with the January ‘22 NYMEX settlement of $4.024. This was down from the higher December close. The remainder of 2022 is trading at a more reasonable level.
Futures as of 1/5/2022 versus previous week:
Natural Gas Inventory
Working gas in storage was 3,195 Bcf as of Friday, December 31, 2021. According to EIA estimates this represents a net decrease of 31 Bcf from the previous week. We have now hit levels over the 5 year average.
The Baker Hughes exploration gas count came in at 107 this week, which was up one from last week. There are 24 more rigs in service compared to this time last year.
Most of the country is expected to see normal or above normal temperatures for the coming week.
National Weather Service Updates (NOAA)
Hurricane Watch: Click here to view the National Hurricane Center site.
Equatorial Pacific Outlook:
Click here to view La Nina and El Nino status.
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