Electricity Markets
All forward markets increased week over week, continuing the trend of the past few weeks of market gains. Gains come on the heels of news of a possible warmer summer and production cutbacks
Spot pricing slightly increased compared to the previous week, but temperatures remained seasonal
Natural Gas Markets
Minimal change in forward pricing week over week. Balance of 2024 was slightly down from last week. 2025 and 2026 continue to stay tight together. We will need to watch natural gas production through the remainder of 2024
Futures as of 4/4/2024 versus previous week:
| Current | ||
| May-24 | $1.833 | +$0.104 |
| Jun-24 | $2.043 | +$0.078 |
| Jul-24 | $2.356 | +$0.045 |
| Aug-24 | $2.462 | +$0.050 |
| Sep-24 | $2.457 | +$0.054 |
| Oct-24 | $2.540 | +$0.042 |
Natural Gas Inventory
Working gas in storage was 2,259 BCF as of Friday, March 29th , according to EIA estimates. This represents a net decrease of 37 Bcf from the previous week.
The Baker Hughes exploration remained unchanged, for a total of 112 this week.
Weather Update
Temperatures will be above average across most of the United States
Hurricane Watch: Click here to view the National Hurricane Center site.
News : US gas prices to be increasingly linked to international markets through LNG- Rising LNG export capacity will make the US gas market increasingly sensitive to global gas prices if spreads tighten, but strong international demand should generally keep utilization rates high at US terminals, market analysts said March 27.
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