Energy Update - 09/23/2019 (Plain Text Version)
Higher Storage and Lower Prices
Weekly review for September 15 - 21, 2019
On Thursday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday Sep 13, 2019 was 3,103 BCF. This was an increase of 84 BCF from the previous week, a bit higher than market expectations. Inventories are now 393 BCF higher than last year at this time, 75 BCF below the 5-year average.
After recent increase, it was good to see prices come back down, if only by a small amount. The PJM Western Hub 12-Month curve was down 0.9% and the NYMEX natural gas 12-month curve was down 1.9%.
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.