Gas Futures Fall Again
Yesterday trading of June 2019 natural gas contracts closed with a rally of over 5 cents to $2.633/MMBtu.
Today’s larger than anticipated injection of 114 Bcf of gas into storage caused gas prices to drop sharply, with July 2019 futures falling nearly 8 cents.
Real time power prices are still very cheap despite the 30 day average rising slightly in the past week, now at $22.05/MWh.
A strong rebound in electric futures this week after reaching multi-month lows last week has brought the 12 month electric futures strip up to $34.70/MWh.
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