View Archived Market Commentary:
- The NYMEX natural gas market continued its dance around the $4.00 mark last week. Prices steadily increased capping off just above $4.00 on Wednesday, but by Friday’s settle the market had reversed these gains and ended right where it started.
- Injections once again exceeded expectations as the EIA announced a 90 BCF injection into storage. The announcement triggered a bearish reaction on the NYMEX which saw the prompt month shed 10 cents on Thursday.
- Analysts are currently predicting storage levels to reach 3.5 TCF by the end of October. The lack of a price spike in the Winter-2015 Strip indicates traders seem to be comfortable with this number.
- Power prices experienced small increases this week. The markets tracked in the table below all gained around 1%.
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.
IGS ENERGY EMAIL UPDATES
Enter your email address to receive the weekly market summary.