Weekly Market Energy Report: Small Storage Report Boosts Gas Futures
August 2018 futures continue falling for the third consecutive week. Down another 6 cents to $2.769/MMBtu.
Yesterday’s storage injection of 46 Bcf was well below expected, bringing total gas in storage to 2,249 Bcf, 710 Bcf less than this time last year.
The 30 day average price of power rose sharply from last week, up $3.70/MWh from last week to $34.16/MWh.
Electricity futures dipped slightly this week after weeks of steadily climbing. The 12 month strip fell 26 cents from last week to $31.31/MWh.
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