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Weekly Market Update
December 8, 2017
Since opening as the prompt month at $3.131/MMBtu, January 2017 futures have taken over a 30 cent dive; over 10 cents of which came yesterday.
Yesterday the EIA announced a 2 Bcf injection of gas into storage which added more downward pressure to the market. This is the first injection of the heating season to occur since 2012.
Real time power prices dipped a little bit lower this week pulling the 30 day average below $25/MWh.
Electricity futures continue to follow the natural gas market and are down from last week. The 24 month strip is now back below $30/MWh at $29.27/MWh as of Wednesday’s close.