Business electricity prices remained relatively unchanged as we wrapped up another week of sideways trading in the natural gas market. The NG OCT10 contract settled up 11.5 cents to close at $3.883 per MMBTU.
Energy Blog
Business Electricity Prices Hold At Support
Business electricity prices continue to hold at support with Natural Gas (NGOCT 10) closing yesterday, down 4.6 cents to $3.76 / mmbtu on the Nymex Henry Hub. Between August 26 and Sept 10, we have traded in a range between $3.95 and $3.69.
Yesterday saw storage come about where we expected it to at net injection …
Electricity Prices Drop on Light Storage Draw
Electricity prices fell Thursday morning upon release of the latest natural gas storage report. According to the Energy Information Agency there was a withdrawal of 115 billion cubic feet of natural gas during the week of January 29th. The consensus among insiders was that there would be a draw of approximately 122 bcf.
The same week …
Another Head Fake From Natural Gas?
Yesterday we saw the first withdrawal from U.S. natural gas storage of the fall. Analysts expected a draw of 47 billion cubic feet, but the Energy Information Agency reported a much larger draw of 64 Bcf. This report reflects the impact of the first blast of wintry weather that swept through the week of …
Market Surprised By Yet Another Injection of Natural Gas
Many industry experts had expected to see the first withdrawal of natural gas this morning. But instead of getting the 2 bcf withdrawal that was expected, the first natural gas storage report of December showed an injection of 2 bcf.
To put this in perspective, during the same week last year the Energy Information Agency …
Does Latest Natural Gas Production Report Signal a Market Bottom?
For months analyst have been looking for the massive drop in rig counts to result in a decrease in natural gas production in the U.S. According to the Energy Information Agency’s latest production report, this has finally happened. Production in the lower 48 states fell by 1.4 billion cubic feet per day in …
Texas Electricity Prices Uncertain
We started the the week off with a burst of cold weather, and a spike in natural gas prices. Many of the headlines touted a possible market bottom as we witnessed the first markedly cold weather in Texas. But Tuesday saw the market lose it’s momentum, with natural gas closing down 8.4 cents at $4.53 …