Forward markets in NY and PJM increased over the last week, while they decreased in New England and Texas. Overall, all forward markets have generally trended upward as we head into summer. Texas forward markets still remain elevated in comparison to the previous few months as near record heat settles in across the South.
Heat returned to the Northeast over the last week, and spot markets responded in kind. All regions saw an increase near the end of the week. New England spot prices were the highest observed since February.
Natural Gas Markets
Forward pricing years are beginning to consolidate again. 2023 Forward pricing increased, while 2024 and 2025 stayed flat. Increases in the forward markets are being driven by near term increases.
Futures as of 6/29/2023 versus previous week:
Natural Gas Inventory
Working gas in storage was 2,805 BCF as of Friday, June 23rd, according to EIA estimates. This represents a net increase of 76 Bcf from the previous week.
The Baker Hughes exploration remained the same, for a total of 130 this week.
Temperatures will be above average across the East Coast and Northwest, and below average across the Midwest
Hurricane Watch: Click here to view the National Hurricane Center site.
News : US FERC allows 304-mile Mountain Valley gas pipeline to resume full construction- The US Federal Energy Regulatory Commission gave Mountain Valley Pipeline the go-ahead to proceed to full construction of the 304-mile, 2 Bcf/dnatural gas project, the agency said in an order June 28.
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