Weekly Market Energy Report: Gas Futures Surge to Highest Since 2014
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.
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.
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