Energy Market Update 4-18-2022

Electricity Markets

Forward electric markets saw another large jump up this past week. Cooler weather and higher cost of underlying natural gas due to continued political tensions are the cause.

Some milder temperatures brought on little fluctuation on daily pricing markets.

Natural Gas Markets

The NYMEX saw another steep climb up over the past week. 2022 is now trading around the $7.00 mark.

  Futures as of 4/13/2022 versus previous week:
May-22 $6.997 +$0.834
Jun-22 $7.096 +$0.852
Jul-22 $7.173 +$0.864
Aug-22 $7.174 +$0.863
Sep-22 $7.151 +$0.861
Oct-22 $7.163 +$0.854
Natural Gas Inventory
Working gas in storage was 1,397 Bcf as of Friday, April 8, 2022. According to EIA estimates this represents a net increase of 15 Bcf from the previous week.  

The Baker Hughes exploration gas count came in at 143 this week, which is up two since last week. There are 50 more rigs in service compared to this time last year.

Weather Update

Most of the country will be at or below normal temperatures for next week.

National Weather Service Updates (NOAA)

Hurricane Watch: Click here to view the National Hurricane Center site. Equatorial Pacific Outlook:

US gas storage deficit likely to widen in anemic start to injection season

Following a rocky start to the US natural gas storage injection season, milder weather is finally giving utilities and traders an opportunity to begin rebuilding severely diminished inventories, an S&P Global Commodity Insights survey of analysts shows. 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.

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