Weekly Market Energy Report: Gas Futures Continue to Push $5
The volatility continues in the natural gas market as December 2018 contracts rose over 65 cents Friday and Monday before falling over 17 cents Tuesday.
The market received another boost this morning from the first storage withdrawal of the season which was larger than expected. Total gas in storage now falls to 3,113 Bcf.
Real time power prices continue to be propped up by high gas prices. The 30 day average sits at $33.45/MWh as of Tuesday.
Electricity futures continue to follow the lead of the natural gas market. The 12 month strip has blown by the high set last week and is now at $38.49/MWh, the highest we’ve seen since June of 2016.
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