Volume 15, Issue 84 October 16, 2018
In this Issue
Fixed-Price Energy Supply Plans Provide Peace of Mind
Editor's Note
Storage Levels Below 5-Year Minimums
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Editor's Note
Storage Levels Below 5-Year Minimums
Weekly review for October 7 - 13, 2018


On Thursday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday, October 5, 2018, was 2,956 BCF. This was an increase of 90 BCF from the previous week, in line with market expectations. Inventories are now 627 BCF lower than last year at this time, 607 below the 5-year average, and remain below the 5-year minimum value (currently 3,232), as they have since July 27, 2018. There is not much time before the beginning of the winter withdrawal season, and typical injections for the rest of the of the month will leave storage level far below those we have seen in recent winters. This could increase upward pressure on prices, in the event of a prolonged or significant cold snap.

 

This week the NYMEX natural gas 12-month strip was up 1.8%, with the PJM West Hub 12-month forward curve basically flat (up just 0.1%).  Despite this week’s increases, natural gas prices through 2020 and beyond remain near all-time lows.

 

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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