Electricity Markets
Forward markets increased slightly over the past week. Texas forward markets saw a more sizable increase as heat returned to the south.
Spot pricing trended upward over the last week as above average temperatures set in across the Northeast.
Natural Gas Markets
Forward pricing years saw minimal change across all years over the last week.
Futures as of 7/13/2023 versus previous week:
| Current | ||
| Aug-23 | $2.641 | -$0.014 |
| Sep-23 | $2.608 | -$0.033 |
| Oct-23 | $2.694 | -$0.034 |
| Nov-23 | $3.109 | -$0.012 |
| Dec-23 | $3.524 | -$0.030 |
| Jan-23 | $3.763 | -$0.022 |
Natural Gas Inventory
Working gas in storage was 2,930 BCF as of Friday, July 7th, according to EIA estimates. This represents a net increase of 49 Bcf from the previous week.
The Baker Hughes exploration decreased by 2 rigs, for a total of 133 this week.
Weather Update
Temperatures will be above average across the West, and below average across the Northeast
Hurricane Watch: Click here to view the National Hurricane Center site.
US drillers cut oil and gas rigs for 10th time in 11 weeks, Baker Hughes says- U.S. energy firms this week cut the number of oil and natural gas rigs operating for a 10th time in 11 weeks, energy services firm Baker Hughes (BKR.O) said in its closely followed report on Friday.
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