First Storage Withdrawal Pulls 94 Bcf
Natural gas futures prices continue to trend downward as warmer temperatures return. December futures are down over 10 cents from the start of the month.
Today’s withdrawal of 94 Bcf of gas was the first withdrawal of the season. Total gas in storage is now 3,638 Bcf, 60 Bcf behind the 5 year average.
The 30 day average price of real time power continues to rebound, currently up over $3/MWh from last week to $25.69/MWh.
Electricity futures have remained steady from last week. The 12 month strip is down slightly to $30.49/MWh.
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