Volume 16, Issue 25 August 12, 2019
In this Issue
Editor's Note
Warm Weather and Low Prices
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Editor's Note
Warm Weather and Low Prices
Weekly review for August 3 - 9, 2019

 

On Thursday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday, August 2nd, 2019 was 2,689 BCF.  This was an increase of 55 BCF from the previous week and was less than what the market was expecting.  Storage levels are 343 BCF (14.6%) higher than a year ago, but 111 BCF (4%) lower than the 5 year average for this date.

After a warmer than normal May, June, and July in our region, August looks to continue this pattern.  Cooling degree days at Washington Reagan National Airport were 16.2% warmer than the 30 year average for the first 8 days of August, and the National Weather Service 6-10 and 8-14 Day Outlooks both show continued warmer than normal temperatures for our region.

Prices were down this week.  At the end of the week, the NYMEX natural gas 12-month strip was down 3%, and the PJM West Hub 12-month forward curve was down 0.2%.

 

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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