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Weekly Energy Market Update July 7, 2014

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Below is the Direct Energy Business Weekly Energy Market Update video for July 7, 2014. We embedded this video right into the blog post, so you don’t have to leave this page to view it. The written summary is still below too.

The following is a summary of last week’s market activity and the market outlook.

NYMEX natural gas futures continued to show significant weakness last week as an eight consecutive storage injection of 100 Bcf or more weighed on market prices.

The prompt month fell to $4.41 and is down again this morning into the low $4.20’s - its lowest level since January.

NYMEX levels through next winter are also at lows since January, but longer-term prices declined less.

Mild weather and robust domestic production have triggered the large storage injections, but a large storage deficit remains in place.

From a strategy perspective, the question is how to react to this early summer dip. Will prices fall further? How long will lower prices be sustained? Buy now or wait?

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Posted: July 07, 2014