Weekly Market Energy Report: Natural Gas Prices’ Downward Momentum
March 2018 futures are continuing their downward momentum. Now down over 60 cents in the last 2 weeks.
Today’s larger than expected withdrawal from storage lowers total gas in storage to 1,884 Bcf, 577 Bcf below levels for this week last year.
The 30 day average price of power is down another $7 MWh from last week and is less than half of what it was two weeks ago now approaching $30/MWh.
Electricity futures are down slightly from last week. The 24 month strip is now within 20 cents of the historic low set back on December 21st.
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