September 22, 2014
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- 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%.