Direct Energy Business
Market Data For Your Home Contact Us

Weekly Energy Market Update: September 22, 2014

read | Share:

Below is the Direct Energy Business Weekly Energy Market Update for September 22, 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.

Large gains seen early in the week were balanced by more moderate, but steady, declines later in the week; overall, market is close to flat, compared to one week ago.

  •            NG Prompt                  -0.02 
  •            12-Month                    flat
  •            NG Cal 15, 16, 17       +0.01 

Prompt month continues sideways movement, remains range-bound between $3.75 and $4.00.

Warmer-than-normal temps in the West forecast to continue for the next 10 days, and edging a bit eastward away from the coast in days six through 10. Normal temperatures prevail in the East, South, and, eventually, West Coast.

Thursday’s 90 Bcf storage build came in very close to target, and was the 22nd consecutive injection to beat the 5-year average. Upcoming mild temps are expected to help bring a strong finish to the last seven weeks of the injection season (Oct. 31). End-of-season projections:

  •           On pace to reach 3,500-3,600 Bcf, although the EIA still predicts 3,477 Bcf.
  •           For next three weeks, injections are expected to exceed the 5-year average, on average, by 17 Bcf/week
  •           Natural gas production remains close to the all-time record set on Sept. 2 at 69.5 Bcf/day.

For more insights, please view: 
Market Insights Customer Education Center
Sign up to receive Weekly Market Update emails

Posted: September 22, 2014