October Gas Down on Lower Demand
October 2020 gas futures are down over 8 cents from last week, settling at $2.406/MMBtu on Wednesday.
Today’s injection of 70 Bcf was slightly larger than expected and lifted total gas in storage to 3,525 Bcf, 13% above the 5 year average.
The 30 day average price of real time power continues to trend downward, falling almost another $0.80/MWh to $22.44/MWh.
Power futures are up slightly from a week ago as the market continues to be seek direction. The 12 month strip settled Wednesday at $30.06/MWh.
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