Market Energy Report: Futures Continue To Fall
Natural gas futures continued to fall this week as the prompt month dropped 15 cents on Tuesday. January 2018 now approaching 50 cents down from December 2017’s close.
Yesterday’s storage report announced a 69 Bcf withdrawal of gas from storage, larger than what was anticipated but still much less than the 5 year average for this week.
Real time power prices were steady from last week keeping the 30 day average right around $25/MWh.
Electricity futures also continued to fall reaching new lows on Tuesday and Wednesday. The 12 month strip is now at a new low of $29.38/MWh.
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