Market Commentary

Weekly Recap

October 6, 2014

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  • The NYMEX natural gas market started off the week with a jump of 17 cents on the prompt month. This tapered off throughout the week and by Thursday all gains had been shed. However, Friday brought another spike and the prompt month ended the week with a 5.5 cent gain, while the 12 month average finished the week down 3.7 cents.
  • We are finally back over 3 TCF in natural gas storage! An impressive injection of 112 BCF was announced last week which brought the deficit to the 5 year average just below 400 BCF and leaves us with 3.1 TCF in the ground.
  • Power prices experienced modest decreases across the board. Each of the markets listed in the table below shed between 2.5 and 4.5 cents on the week.
  • After a chilly weekend here in Dublin, Ohio, forecasts appear to have shifted. Most areas of the country are expecting warmer-than-normal temperatures in the coming week.