Weekly Market Update- 7/17/2023

Electricity Markets

Forward markets increased slightly over the past week. Texas forward markets saw a more sizable increase as heat returned to the south.


Spot pricing trended upward over the last week as above average temperatures set in across the Northeast.

Natural Gas Markets

Forward pricing years saw minimal change across all years over the last week.


Futures as of 7/13/2023 versus previous week:

Aug-23 $2.641 -$0.014
Sep-23 $2.608 -$0.033
Oct-23 $2.694 -$0.034
Nov-23 $3.109 -$0.012
Dec-23 $3.524 -$0.030
Jan-23 $3.763 -$0.022

Natural Gas Inventory 

Working gas in storage was 2,930 BCF as of Friday, July 7th, according to EIA estimates. This represents a net increase of 49 Bcf from the previous week.


The Baker Hughes exploration decreased by 2 rigs, for a total of 133 this week.

Weather Update

Temperatures will be above average across the West, and below average across the Northeast


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


US drillers cut oil and gas rigs for 10th time in 11 weeks, Baker Hughes says- U.S. energy firms this week cut the number of oil and natural gas rigs operating for a 10th time in 11 weeks, energy services firm Baker Hughes (BKR.O) said in its closely followed report on Friday.  


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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