Weekly Market Energy Report: March 2018 Futures Dropping
March 2018 futures have fallen nearly 50 cents since taking over as the prompt month.
The 12 month strip has fallen roughly 25 cents in the last 10 days down to $2.83/MMBtu. Today’s storage report of a 119 Bcf withdrawal brought gas in storage to 2,078 Bcf, now 503 Bcf less than last year’s levels.
The 30 day average price of power is down over $25/MWh from last week as real-time power prices continue to be low so far in February.
The futures strips continued to fall this week after last week’s big drop. The 12 month strip is down another 75 cents to $29.52/MWh.
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