Natural Gas Prices Rebound
Natural gas futures made a strong push this week on colder expected weather in the near term. February 2021 is up over 17 cents this week.
This week’s storage report showed a smaller withdrawal than was anticipated. After the 130 Bcf withdrawal, total gas in storage is now 6% above the 5 year average.
Real time power prices are trending slightly higher the past several weeks. The 30 day average is up to $23.03/MWh.
Electricity futures are up slightly from last week after nearly breaking back below $25/MWh to close out 2020. The 12 month strip is now at $26.43/MWh.
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