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Weekly Energy Market Update: September 15, 2014

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Below is the Direct Energy Business Weekly Energy Market Update for September 15, 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.   

  • Despite huge swings last week, only slight gains overall
  • Prompt month continues sideways movement, remains range-bound between $3.75 and $4.00
  • Cold temps across Midwest and Northeast forecast to end this week, returning to normal; heat in the West expands
  • Thursday’s storage injection (+92) was far above expectations, larger than the highest estimate, and was the 21st consecutive injection to beat the 5-year average.
  • EIA projects end-of-season (Oct. 31) levels = 3,477 Bcf, but storage building on-pace to exceed 3,500 Bcf

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Posted: September 15, 2014