Electricity Markets
Most markets saw a slight move up again from last week, as warmer temperatures brought increase strain to the regions.
Increased load due to warmer temperatures led to volatility in the markets.
Natural Gas Markets
June 2021 NYMEX closed at $2.984 which was just above the May close, as the remainder of 2021 continues an upward trend.
.
Futures as of 5/26/2021 versus previous week:
| Jul-21 | $3.027 | +$0.095 |
| Aug-21 | $3.045 | +$0.046 |
| Sep-21 | $3.040 | +$0.027 |
| Oct-21 | $3.057 | +$0.049 |
| Nov-21 | $3.122 | +$0.097 |
| Dec-21 | $3.241 | +$0.021 |
Natural Gas Inventory
As of Friday, May 21, 2021 working gas in storage was 2,215 Bcf. According to EIA estimates this represents a net increase of 115 Bcf from the previous week.
The Baker Hughes exploration gas count is down 1 from the previous week for a total of 98 rigs. This is 20 more rigs than the 79 in operation at this time one year ago.
Weather Update
A wide range of expected temperatures across the CONUS. Much of the Northeast and Northwest will be warmer with Texas and the surrounding area experiencing colder than normal temperatures.
National Weather Service Updates (NOAA)
Hurricane Watch: No Hurricanes
Click here to view the National Hurricane Center site.
Equatorial Pacific Outlook:
Click here to view La Nina and El Nino status.
Energy News
Climate-focused investors push top oil drillers to ‘start facing the future’ ExxonMobil and Chevron at annual meetings May 26 faced their strongest pushback yet from climate-focused investors urging the oil and gas drillers to “start facing the future” by shifting to lower-carbon technologies and preparing for sharply lower fossil fuel demand
If you would like to receive the Energy Market Update to your inbox weekly, please click here to submit your name and email address.
Disclaimer: This information is provided for the use of our customers and potential customers. Power Management Company assumes no responsibility or liability for the accuracy or completeness of pricing or information in this document. Historical data was obtained from sources that we believe to be reliable, but we do not guarantee its accuracy or completeness. It is