Weekly Market Update- 4/8/2024

Electricity Markets

All forward markets increased week over week, continuing the trend of the past few weeks of market gains. Gains come on the heels of news of a possible warmer summer and production cutbacks


Spot pricing slightly increased compared to the previous week, but temperatures remained seasonal

Natural Gas Markets

Minimal change in forward pricing week over week. Balance of 2024 was slightly down from last week. 2025 and 2026 continue to stay tight together. We will need to watch natural gas production through the remainder of 2024


Futures as of 4/4/2024 versus previous week:

May-24 $1.833 +$0.104
Jun-24 $2.043 +$0.078
Jul-24 $2.356 +$0.045
Aug-24 $2.462 +$0.050
Sep-24 $2.457 +$0.054
Oct-24 $2.540 +$0.042

Natural Gas Inventory 

Working gas in storage was 2,259 BCF as of Friday, March 29th , according to EIA estimates. This represents a net decrease of 37 Bcf from the previous week.


The Baker Hughes exploration remained unchanged, for a total of 112 this week.

Weather Update

Temperatures will be above average across most of the United States


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


News : US gas prices to be increasingly linked to international markets through LNG- Rising LNG export capacity will make the US gas market increasingly sensitive to global gas prices if spreads tighten, but strong international demand should generally keep utilization rates high at US terminals, market analysts said March 27.  


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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