Energy Prices Rebound
Natural gas futures prices have taken a downturn after several weeks of upward momentum. The 12 month strip is now down below $2.50/MMBtu.
Today’s injection of 3 Bcf will likely be the last one for the year as demand picks up. Total gas in storage is 491 Bcf higher than last year.
The 30 day average price of real time power is rebounding on the back of this week’s cold weather, currently up to $22.80/MWh.
Electricity futures are bouncing around this week as the market finds direction. The 12 and 24 month strips both briefly dropped below $30/MWh on Tuesday.
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