Energy Market Update
Electricity Markets
PJM and NYISO were up slightly from last week, however ISO NE saw another small drop in their electric.
Warmer than normal temperatures saw some upward movement in electric markets.
Natural Gas Markets
NYMEX is trading up from last week. June 2022 is trading close to $8.00.
Futures as of 5/18/2022 versus previous week:
| Current | ||
| Jun-22 | $8.368 | $1.118 |
| Jul-22 | $8.455 | $0.688 |
| Aug-22 | $8.444 | $0.791 |
| Sep-22 | $8.402 | $1.374 |
| Oct-22 | $8.383 | $1.306 |
| Nov-22 | $8.441 | $-3.596 |
Natural Gas Inventory
Working gas in storage was 1,732 Bcf as of Friday, May 20, 2022. According to EIA estimates this represents a net increase of 89 Bcf from the previous week.
The Baker Hughes exploration gas count came in at 150 this week, which is up two from last week. There are 54 more rigs in service compared to this time last year.
Weather Update
The Northeastern half of the country will see above normal temperatures, whereas the west coast will be below normal.
National Weather Service Updates (NOAA)
Hurricane Watch: Click here to view the National Hurricane Center site.
Equatorial Pacific Outlook: Click here to view La Nina and El Nino status.
Oil Prices Top $100, Yet Some Big U.S. Frackers Let Their Production Fall
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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 not intended to provide advice or recommendation. Views are subject to change.