View Archived Market Commentary:
- Last week was a fairly calm week on the NYMEX natural gas market. The Sep-14 prompt month traded in the $3.80’s while the 12 month average found a home in the $3.90’s. Both price points settled less than 2% up from last week.
- Power prices mirrored natural gas prices as Ohio, Chicago, and Pennsylvania had less than 2% gains on the week. New York City was the one exception settling up 2.1% over the previous week.
- Injections remain strong with an 88 BCF injection into stor-age being announced last Thursday. While this number was slightly above expectations, it was also just shy of doubling the 5 year average.
- Despite a healthy injection report on Thursday, traders had near-term forecasts of warm weather in mind. Over the course of the day an initial drop on the NYMEX turned into a 6 cent gain on both the prompt month and 12 month average.
The comments made above regarding the NYMEX futures market are the sole opinion of the author, not necessarily the opinions of Interstate Gas Supply, its officers or its employees. Information provided in this “Market Update” is for illustration purposes only, and neither the author nor Interstate Gas Supply shall be liable for any information contained herein.
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