Energy News 2-21-2022

Electricity Markets

All electric markets saw a bump up in rates over the last week. Continued geopolitical tensions and a mix of temperatures have led to the increases.

Large swings in daily temperatures have caused a lot of volatility in the markets this past week.

Natural Gas Markets

NYMEX was back up, well over the $4 mark for the remainder of 2022.

Futures as of 2/16/2022 versus previous week:
Mar-22 $3.999 $.718
Apr-22 $3.963 $.609
May-22 $3.992 $.590
Jun-22 $4.04 $.583
Jul-22 $4.094 $.577
Aug-22 $4.107 $.571
Natural Gas Inventory
Working gas in storage was 1,911 Bcf as of Friday, February 11, 2022. According to EIA estimates this represents a net decrease of 190 Bcf from the previous week.  

The Baker Hughes exploration gas count came in at 124 this week, which was up six from last week. There are 34 more rigs in service compared to this time last year.


Weather Update

Most of the country will see below normal temperatures. The Mid West will see some extremes colds, while the South East will be well above normal.

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.

Energy News

Infographic: Russia standoff puts spotlight on global oil and gas supply as Ukraine crisis grows

The prospect of a Russian invasion of Ukraine could have major implications for global supplies of oil and gas in a market already feeling the pressure from low inventories, supply constraints, and rebounding demand. 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.

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