Volume 15, Issue 76 August 6, 2018
In this Issue
We Can Help with Your LEED Certification
Editor's Note
Stubborn Storage Deficit Remains
Energy Management
WGL Energy Issues More Notices Regarding Peak Electricity Usage
Weather
Local Cooling Degree Days*
Editor's Note
Stubborn Storage Deficit Remains
Weekly review for July 28 - August 3, 2018

 

On Thursday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday, July 27, 2018 was 2,308 BCF. This was an increase of 35 BCF from the previous week, and was a smaller injection than market expectations. The injection was smaller than the 5 year average injection for the week (43 BCF), but higher than last year’s injection for the week (18 BCF). 

Inventories are still substantially lower than the year ago levels (by 688 BCF or 23%) and the five-year average (by 565 BCF or 19.7%). Despite record setting production levels in late July, the storage deficit remains stubbornly wide. Strong demand for natural gas for power generation and higher demand for natural gas for LNG exports have continued. 

Prices were basically unchanged this week. The PJM West Hub 12-month forward curve rose 0.1% this week, while the NYMEX natural gas 12-month strip was down 0.4%. Stay tuned as we continue to navigate the summer injection season.

 

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.