Weekly Market Energy Report: Gas Futures Continue to Slide
Natural gas futures contracts continue to tumble, March 2019 contracts are down over 20 cents since becoming the front month last week.
This morning the EIA announced a withdrawal of 237 Bcf, the largest of this withdrawal season, bringing gas in storage below 2,000 Bcf to 1,960.
Real time power prices have stayed low in the days following last week’s polar vortex which had little effect on the 30 day average price of power.
Electricity futures are still trending downward aided by the continued decline of natural gas prices. The 12 month strip is now back below $36/MWh to $35.47.
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