October Gas Sinks Below $2/MMBtu
Natural gas futures fell hard since Tuesday. October 2020 futures have fallen below $2/MMBtu multiple times today.
Today’s injection of 89 Bcf was larger than expected and added more downward momentum. Total gas in storage is now 13% ahead of the 5 year average.
Real time power prices remain cheap, pulling the 30 day average lower. The 30 day average price is now below $20/MWh.
Power futures are down slightly from last week. The 12 month strip is down 40 cents from last week to $29.66/MWh.
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