May 19, 2014
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- Another week of downward movement on the NYMEX
reached its low point on Tuesday with the strip bottoming
out at 4.353. Thursday saw a minor rebound and the strip
settled exactly 10 cents below the prior week.
- Power restored some of its correlation to natural gas as
prices mirrored the downward movement of the NYMEX in
all 5 markets tracked below
- Cool weather in the Midwest late last week could mean an
unimpressive injection next week. Here in Dublin, Ohio
temperatures got as low as the mid 40’s.
- Thursday’s storage report brought some volatility to the
market. Initial reactions to the 105 BCF change in storage
were bearish until trader’s realized that 8 BCF of this number
was noted as a correction made by the EIA. This
brought the injection down to 97 BCF and the prompt
month gained 10 cents on the day.