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Weekly Energy Market Update June 16, 2014

By Direct Energy Business
Energy Market Update

Below is the Direct Energy Business Weekly Energy Market Update video for June 16, 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.

  • Natural gas slightly rose for the week, but does not reflect the intra-week volatility.
  • Prompt month natural gas dropped significantly Monday to Wednesday (-20 cents) due to bearish weather reports and tested support at $4.50 before rallying strongly on Thursday (+26 cents) after the storage report.
  • Thursday’s rally was biggest since February 19.
  • Quick erasure declines from early in the week are confirmation of market concerns regarding storage.
  • Overall, prompt tested recent range and held both top and bottom. Wider range for both prompt and 12-month strip are approximately $4.30 – 4.80 since March.
  • 2015 and 2016 are still in backwardation, with contango thereafter. Forwards are below $5 through 2020.

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Posted: June 16, 2014

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