Weekly Market Energy Report: Gas Futures Surge to Highest Since 2014
Natural Gas
More volatility this week in natural gas futures for this winter. The December 2018 contract rose more than $1/MMBtu through Wednesday this week to the highest levels in nearly 5 years.
Today the market is responding to the largest upward movement in years with the largest downward movement in years. Paired with a larger than expected storage injection, December 2018 contracts are down over 70 cents today.
Electricity
Real time power prices are beginning to rise with the high natural gas prices we’re seeing. The 30 day average is up more than $1.50/MWh from last week now just below $30.
Electricity futures continue to follow the natural gas market. The 12 month strip now sits just below $36/MWh, over $3 higher than just two weeks ago and the highest it has been since December of 2016.
Charts
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Disclaimer
This document is intended for indicative purposes only. All information contained within this report is acquired from third-party sources and EnergyMark makes no representations or warranties, express or implied, as to the accuracy of the information provided herein. EnergyMark is not liable for any actions or decisions made in reliance on the information provided in the report.
