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Energy Buying Strategies in the Current Market

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Per last week’s Energy Market Update, I have provided some energy buying strategies in the current market.

Market Overview

NYMEX gas prices were more volatile in August than they had been during July, despite only modest price changes since the last report. Weather and natural gas storage remain the primary price drivers. July’s finish and August’s start were both mild and prices fell, with August 9 as a low point. In fact, the 12-month Strip posted a 6-month low and most calendar Strips hit new all-time lows on that date, dipping below the April 2012 lows. However, the weather turned and prices rallied—maybe with some help from bargain buyers and technical support—and the trend for the remainder of the month was mostly upward.

(all prices are in MMBtu)

NYMEX Contract 8/30/13 Change since 7/24/13 August low

October 2013 $3.58 -13 cents $3.25

12-month Strip $3.85 -3 cents $3.56

Cal '14 $3.93 -8 cents $3.69

Cal '15 $4.14 -3 cents $3.96

Cal '16 $4.26 -1 cent $4.13

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Posted: November 05, 2013

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