Weekly Market Energy Report: Year Over Year Storage Deficit Increases
Some back and forth this week in natural gas futures prices. Despite being up today, prompt month futures are still down on the week.
Today’s injection of 58 Bcf of gas into storage brought total gas in storage to 3,095 Bcf, increasing the year over year gap to 606.
Expensive real time prices on Monday and Tuesday have caused the 30 day average to rebound from last week. Now up to $26.92/MWh.
Very little movement in electricity futures over the past week. The 12 and 24 month strips are moving in opposite directions, up 2 cents and down 7 cents respectively.
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