August 25, 2014
- 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.