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 …
Category Archive
for: ‘Natural Gas Storage Report’
Business Electricity Prices Hold At Support
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 …
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 …