On Thursday, the U.S.
Energy Information Administration (EIA) reported that working gas in storage as
of Friday, October 9, 2020 was 3,877 BCF.
This was an increase of 46 BCF from the previous week. Inventories are
now 388 BCF higher than last year at this time, 353 BCF above the 5-year
average as well as above the previous 5-year high.
This week the NYMEX
natural gas 12-month strip (Nov20-Oct21) was up 3.7%. This is the highest this strip has been in 4
years. However, prices further out, for
Starting April 2022 and extending through 2024, are below where they were last
year at this time and remain relatively close to their lows. The PJM Western
Hub 12-month strip was up 1.5%.