Electricity Markets
Forward markets started the week quiet, but spiked as a result of a below normal natural gas storage report. All forward markets dropped week over week except for New England.
Cool weather kept spot markets quiet over the past week.
Natural Gas Markets
2023 Forward pricing year moved up over the past week. 2024 and 2025 forward pricing years remained flat. Winter months in forward pricing years continue to look optimal.
Futures as of 6/15/2023 versus previous week:
| Current | ||
| Jul-23 | $2.433 | +$0.120 |
| Aug-23 | $2.497 | +$0.092 |
| Sep-23 | $2.493 | +$0.079 |
| Oct-23 | $2.623 | +$0.088 |
| Nov-23 | $3.058 | +$0.078 |
| Dec-23 | $3.507 | +$0.073 |
Natural Gas Inventory
Working gas in storage was 2,634 BCF as of Friday, June 9th, according to EIA estimates. This represents a net increase of 84 Bcf from the previous week.
The Baker Hughes exploration decreased by 5 rigs, for a total of 130 this week.
Weather Update
Temperatures will be above average in the Midwest, the Southern Plains and the Northeast, and below average across the Southwest and Southeast
Hurricane Watch: Click here to view the National Hurricane Center site.
News : Europe faces ‘dire’ situation if next winter is cold: Eurogas chief- Europe would be faced with a “dire” situation if the next winter is cold given the continued gas market uncertainties, the president of industry group Eurogas said June 9.
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