Weekly Market Energy Report: Gas Prices Surging on Storage and Weather
November 2018 futures contracts have climbed 25 cents in the last week to $3.23/MMBtu. Storage levels and weather outlook being the main drivers.
Today’s storage injection of 98 Bcf gave a bit of relief to the market, currently down about 4 cents after being down as much as 9 cents.
Cheap power prices in the real time market have brought the 30 day average down over $5/MWh from last week.
The 12 month electric futures strip is still making its way towards $34/MWh, up another 11 cents from last week. The 24 month trailing by $1.45.
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