Volume 15, Issue 73 July 16, 2018
In this Issue
Achieve Your Sustainability Goals with RECS and Carbon Offsets
Editor's Note
Prices Fall Despite Storage Deficit
Energy Management
WGL Energy Issues More Notices Regarding Peak Electricity Usage
Weather
Local Cooling Degree Days*
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Editor's Note
Prices Fall Despite Storage Deficit
Weekly review for July 7 - 13, 2018

 

On Thursday, July 12, 2018, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday, July 6, 2018 was 2,203 BCF. This was an increase of 51 BCF from the previous week, and was in line with market expectations. The injection was smaller than both the 5-year average injection for the week (77 BCF) and last year’s injection for the week (59 BCF).

Inventories are still substantially lower than last year's levels (by 725 BCF or 24.8%) and the 5-year average (by 519 BCF or 19.1%). Strong demand for natural gas for power generation and higher demand for natural gas for LNG exports have limited storage injections so far this summer, despite significantly higher production levels this year.

Prices fell slightly this week. The PJM West Hub 12-month forward curve fell 0.3% this week, while the NYMEX natural gas 12-month strip was down 1.3%. Stay tuned as we continue to navigate the summer injection season.

 
 
This past week's market information is provided as a courtesy to our customers and is not indicative of, nor should be relied upon, as representative of future transactions. 
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