Volume 18, Issue 5 March 8, 2021
In this Issue
Editor's Note
Market Moves Past Mid-February Chaos
Weather
Washington, D.C. Area Cooling/Heating Degree Days
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Editor's Note
Market Moves Past Mid-February Chaos
Week in Review for February 28 March 6, 2021
 
On Thursday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday, February 26, 2021 was 1,845 BCF.  This was a decrease of 98 BCF from the previous week, much lower than industry expectations, and perhaps impacted by the gas market chaos of the previous week which included a storage withdrawal of 338, the largest since January 2018. Inventories are now 277 BCF lower than last year at this time, 178 BCF below the 5-year average.
 
Energy markets were relatively calm this week.  Spot prices have been tame since the highs of February 17 & 18 and the forward market did not move significantly this week: the NYMEX natural gas 12-month strip (Apr. 21-Mar. 22) ended down 0.7% and the PJM Western Hub 12-month strip was up 0.4%.  Weather forecasts for the Mid-Atlantic are expecting a warmer week for March 7 through 13 with a return to more normal weather afterwards. 
 
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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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