Energy Update - 11/23/2020  (Plain Text Version)

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In this issue:
Editor's Note
•  Warmth Continues
Weather
•  Washington, D.C. Area Cooling/Heating Degree Days

 

Editor's Note

Warmth Continues

Weekly review for November 15 November 21, 2020

 
On Friday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday, November 13, 2020 was 3,958 Bcf.  This is an increase of 31 Bcf from the previous week. Inventories are currently 293 Bcf higher than last year during this same period and 231 Bcf above the 5-year average of 3,727 Bcf.
  
The forecast calls for above normal temperatures this week. Heating load and near-term prices will continue to soften as long as these warmer temperature patterns persist.  While there is still some additional fear premium built into the winter ’21 term that could be eroded, the first sign of cold will more than likely put an end to the downward pressure on prices.
  
Markets moved lower this week as the 12-month NYMEX gas curve dropped 9.9% and the 12-month PJM Western Hub decreased 5.9%. 
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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.