Weekly Market Energy Report: March Futures Rebound
On Tuesday, June 2018 futures rose nearly 10 cents on warmer weather forecasts. The largest one day rally for a prompt month in four months.
Today’s slightly smaller than anticipated injection of gas into storage gave a small boost to the market, June 2018 is up roughly another two cents.
Cheap power prices this week have helped bring down the 30 day average cost of power. Down over $3/MWh from last week.
The rise in the natural gas market also caused a jump in electricity futures. The 12 month strip is up over 50 cents from last week to $30.40/MWh.
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