NYMEX NATURAL GAS CALENDAR STRIPS ALL ABOUT THE NYMEX TWELVE-MONTH STRIP 6-10 DAY AND 8-14 DAY OUTLOOK The forecast for late June/early July turned slightly cooler, resulting in a slight price drop for natural gas and electricity. After reaching $3.15 two weeks ago, July Natural Gas has sunk to $2.68. However, we will be switching to…
Expected Peak Demand Warning ⚠️ All WeekSituation Overview: As the hot weather continues, the PJM grid forecasts high daily electricity demand. The hot weather conditions are expected to drive demand levels, posing a threat to grid reliability. Understanding Peak Demand Days Coincident Peak DaysA coincident peak day is one of the five highest-demand days during the…
6-10 DAY AND 8-14 DAY OUTLOOK The forecasted extreme heat across the U.S. will mean a much higher demand and, consequentially, a lower injection. This will further erode our gas surplus for months, possibly bringing the NYMEX price back above $3.00 for the prompt month. NATURAL GAS STORAGE Last week’s injection of +74 was well below last…
WEATHER: 6-10 DAY AND 8-14 DAY OUTLOOK Forecasts for scorching weather in late June and a severe Heat Dome covering the Southwest sent prices sharply upward last week. Pricing for July Natural Gas went from $2.53 on Tuesday the 6th to $2.97 on Sunday. EIA: NATURAL GAS STORAGE Last week’s storage report was still just above…
NATURAL GAS PRODUCTION Natural Gas had another disappointing injection of only 70 Bcf for the week ending 5/10. Production again came in under 100 Bcf/d, and we have had lower injections than the five-year average in seven of the last eight weeks. However, we still have a great surplus of over 30% compared to the five-year average…
PROBLEMS CONTINUE AT THE FREEPORT LNG FACILITY Persistent problems at the Freeport LNG facility have indeed impacted prices. However, there is a silver lining. Despite a freeze in January and subsequent mechanical issues, two of the three LNG trains are set to come back online. The third train is currently experiencing problems, resulting in Freeport taking in…
EIA: NATURAL GAS STORAGE A substantial injection of +92 Bcf kept pricing deflated for the near future. Part of that injection came from the almost total shutdown of the Freeport LNG facility due to maintenance issues. The facility, the second largest on the Gulf Coast, has a capacity of 2.6 Bcf/d in LNG exports but…
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NATURAL GAS PRODUCTION The Natural Gas Market remained essentially unchanged. Weakening weather demand and inconsistent LNG demand allowed pricing to stay low, and even production jumped about 2 Bcf/d last week to quash any chance of a market rally that would see significant price increases. EIA NATURAL GAS STORAGE Weather demand petered out the previous…
