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Energy Market Snapshot: June 24, 2024
NYMEX NATURAL GAS CALENDAR STRIPS ALL ABOUT THE NYMEX TWELVE-MONTH STRIP The NYMEX Twelve Month Strip is the average of the upcoming 12 months of closing Henry Hub natural gas futures prices as reported on CME/NYMEX. A futures strip is the buying or selling of futures contracts in sequential delivery months traded as a single tr...
Energy Market Snapshot: June 17, 2024
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 +7...
Energy Market Snapshot: June 10, 2024
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 the ex...
Energy Market Snapshot: June 3, 2024
NATURAL GAS: EIA:NATURAL GAS STORAGE Last week was the first storage report in over a month with a higher injection than projected. Producers are bringing some assets online to prepare for a top 10 hot summer, and this production increase will help keep downward pressure on pricing. ELECTRICITY GENERATION SOURCES THE LAST TEN YEA...
Energy Market Snapshot: May 28, 2024
6-10 DAY AND 8-14 DAY OUTLOOK Look for cooling demand to increase as a large heat wave moves across the U.S. in the 6-10 and 8-14 day forecasts. The entire country will see higher-than-normal temperatures except for a small area centered around Kentucky and stretching to the Atlantic, but even the Northeast and the Gulf Coast will surro...
Energy Market Snapshot: May 20, 2024
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 ave...
Market Snapshot: May 6, 2024
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 problem...
Market Snapshot: April 29, 2024
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 has not sent any ...
Energy Market Snapshot: April 22, 2024
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