Energy News 3/7/2022

Electricity Markets

 

All electric markets saw a large jump up over the last week as tensions grow with Ukraine and Russia.

A mix of warmer and a few colder than normal temperature days brought on some day to day volatility in forward electric markets.

Natural Gas Markets

NYMEX continues to rise amid higher oil costs due to geopolitical issues. March 2022 closed below February’s high, at $4.568/Dth.

Futures as of 3/2/2022 versus previous week:

Apr-22 $4.762 $.169
May-22 $4.787 $.182
Jun-22 $4.826 $.179
Jul-22 $4.874 $.177
Aug-22 $4.880 $.175
Sep-22 $4.859 $.176
Natural Gas Inventory

Working gas in storage was 1,643 Bcf as of Friday, February 25, 2022. According to EIA estimates this represents a net decrease of 139 Bcf from the previous week.

The Baker Hughes exploration gas count came in at 130 this week, which was up three from last week. There are 38 more rigs in service compared to this time last year.

 

Weather Update

Most of the population centers will see near normal to below normal temperatures in 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.

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.

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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.

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