Natural Gas Key Takeaways Prompt month NYMEX natural gas settled at $5.20/MMbtu on Monday, October 24, up $.24/MMbtu. After several very bearish sessions, near-month (November) NYMEX futures reversed direction on Monday, settling higher at the end of the day. Prompt-month NYMEX traded up $.16/MMbtu in early morning trading at $5.37/MMbtu. Calendar year 23-27 settled at…
Ohio Electricity Rates More than Double By Summer Ohio FirstEnergy customers will see their electric bills rise starting next summer, as the Akron-based utility has purchased some of its electricity at more than twice the price it’s paying now. During the October 4th auction, FirstEnergy agreed to pay an average price of $122.30 per megawatt-hour for delivery…
Weather Outlook: Brrr! Frost and freeze conditions are forecast early this week across portions of the Plains, Mississippi Valley, Ohio Valley and Tennessee Valley. Mild to warm weather for the remainder of the week across the Midwest, East and South will allow some late-season cooling demand along the Gulf Coast and back into Texas, but…
Weather Forecast: Below Average Temperature Outlook Hurricane Ian directly hit Fort Myers and Sanibel Island, Florida, late last week, causing devastating damage to property and infrastructure. The storm knocked out power to more than 2 million Florida residents. Weather in the Midwest and East is mainly seasonal, with some frost warnings in the midwest this…
Weather: ABOVE-AVERAGE TEMPS IN PACIFIC NORTHWEST MEANS LESS HEAT DEMAND Pricing dropped almost 33% in September. Strong production, mild weather, and Hurricane Ian all combined to bring the Natural Gas Market down by almost $3.00 during September. Take advantage of this now. This drop is temporary. Winter weather is coming, which will mean higher demand…
Weather: PEAK HOURS FOR HEAT GETTING SHORTER While temperatures remain above average for most of the country, the afternoon peak temperatures are not lasting as long as we move into fall and earlier sunsets. This has led to less cooling demand and more substantial storage reports. NOAA TRACK OF HURRICANE IAN Tropical Storm Ian, forecast…
MARKET DROPS AFTER POSSIBLE RAIL STRIKE AVERTED A DROP IN PRICING DROPPED AFTER BOTH SIDES AGREED TO SETTLE An imminent rail strike sent prices soaring on Wednesday and crashing back just as fast when they averted the strike after a 20-hour negotiating session in Washington, DC. The strike would have significantly impacted rail transportation of…
Natural Gas: MARKET HOVERING AROUND $8.00 STRONG PRODUCTION NUMBERS BRING THE NATURAL GAS MARKET DOWN Production numbers remained strong last week, and the upcoming fall temperatures helped limit any growth in the market as the market dropped on Monday and hovered around $8.00 Production topped 100 Bcf/d at points during the week, reaching highs for…