Energy Update - 09/30/2019 (Plain Text Version)
Wrapping up the injection season
Weekly review for September 21 - 27, 2019
On Thursday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday, September 20th, 2019 was 3,205 BCF. This was an increase of 102 BCF from the previous week and was higher than what the market was expecting. Storage levels are 444 BCF (16.1%) higher than a year ago, but 47 BCF (1.4%) lower than the 5 year average for this date.
After a warmer than normal May, June, July and August in our region, September has continued this pattern. Cooling degree days at Washington Reagan National Airport have been 46.6% higher than the 30 year average for the first 26 days of September.
Prices were mixed this week. At the end of the week, the NYMEX natural gas 12-month strip was down 2.7%, while the PJM West Hub 12-month forward curve was up 0.8%.
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.