Volume 16, Issue 22 July 15, 2019
In this Issue
Editor's Note
Warm Temperatures and Higher Prices
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Editor's Note
Warm Temperatures and Higher Prices
Weekly review for July 6 - July 12, 2019

 

On Thursday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday, July 5th, 2019 was 2,471 BCF. This was an increase of 81 BCF from the previous week and was slightly larger than what the market was expecting. Storage levels are 275 BCF (12.5%) higher than a year ago, but 142 BCF (5.4%) lower than the 5-year average for this date.

After a slightly warmer than normal month of June for our region, July to date has also been warmer than normal.  Cooling degree days at Washington Reagan National Airport were 1.6% warmer than the 30-year average in June, and 6.3% warmer than the 30-year average for the first 11 days of July.  This trend looks to continue, as the National Weather Service 6-10 and 8-14 Day Outlooks both show continued warmer than normal temperatures for the Eastern United States.

Prices were up this week.  At the end of the week, the NYMEX natural gas 12-month strip was up 4.7%, and the PJM West Hub 12-month forward curve was up 6.3%.  

 

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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