Volume 15, Issue 86 November 5, 2018
In this Issue
What's New in Energy Efficiency?
Editor's Note
Storage Falls Below the 5-year Average
Weather
Local Cooling Degree Days*
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Editor's Note
Storage Falls Below the 5-year Average
Week in review for October 28 - November 3, 2018

 

On Thursday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday October 26, 2018 was 3,143 BCF. This was an increase of 48 BCF from the previous week, slightly lower than the median market expectation. Inventories are now 623 BCF lower than this time last year, 638 below the 5-year average and remain below the 5-year minimum value, as has been the case since July 27, 2018. 

Not only has the storage level been consistently below the previous 5-year minimum, the amount below the minimum has also been increasing each week and levels are now 363 BCF lower than the previous low of 3,506 BCF.

This week, the NYMEX natural gas 12-month strip (Dec 2018-Nov 2019) was down 0.7%, while the PJM West Hub 12-month forward curve was up 0.7%. Natural gas prices further out in 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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