October 13, 2014
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- The NYMEX natural gas market started the week off by shedding some recent gains. By Wednesday, the prompt month was down 18 cents and the 12 month average was down 11 cents. The rest of the week stayed very flat with both the prompt month and the 12 month average finding a home near $3.85.
- Another triple-digit injection continues a final push to get storage back on track with historical levels. Despite being 25% higher than the 5 year average, the injection of 105 BCF was within expectations.
- Power prices also experienced modest decreases last week. Most markets shed 1%-2% while NY City lost 3.7%.
- Some slight cooling is forecasted for the Midwest in the coming week. While we are still in the shoulder months between summer and winter, prolonged cooling should be watched carefully as a potential indicator of an early start to winter.