Direct Energy Business
Market Data For Your Home Contact Us

Weekly Energy Market Update June 9, 2014

read | Share:

Below is the Direct Energy Business Weekly Energy Market Update video for June 9, 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 futures showed significant strength last week, and the bearish storage report had no effect on prices, rather market is focused on tight supply/demand balance. The prompt month is up 17 cents since last week, settling at $4.71 on Friday, and the 12-mo strip is up 15 cents.  The calendar  ‘15  & ’15 strip are up five cents.

- Days 1-5: seasonal for much of the country, heat in the west; Days 6-10: lingering heat in Texas, most of the U.S. at normal temps.

- The EIA reported a bearish storage injection last week, but the market did not budge.  Gas stockpiles grew by 119 Bcf for the week ended May 30, 2014.  This beat expectations by 4 Bcf, as well as coming in greater than last year (+108 Bcf), as well as the five-year average (+93 Bcf).  Current inventory now stands at 1,499 Bcf, which is 737 Bcf (33%) below last year and 896 Bcf (37%) below the 5-year average.

- This week’s storage report for the week ended Jun 6th is expected to be around 105, which would beat last year’s injection for the corresponding week (+97 Bcf), as well as the five year average (+88 Bcf).  Projections for the next couple injections after this week are pared back due to the above-normal temperatures and increased demand we’re experiencing now.

Set your ZIP code and utility

Enter a valid ZIP code
Unfortunately, we don't currently service this area. Please try another ZIP code.

Loading please wait...

Don't see your utility?

We currently only provide service to the listed utilities. For question, please contact 1-888-925-9115.

Loading...

35.173.234.237