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Energy Market Update: November 14, 2016

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What factors are currently affecting natural gas and electricity prices? 

In the latest Energy Market Update, Tim Bigler — Direct Energy Business Energy Advisor — overviews how increased production, above-normal temperatures and the election results might be having an impact on natural gas and power prices. 

Watch the video below to learn more. 

Natural Gas & Electricity Prices for Winter 2016-2017

The U.S. Northeast currently has a record surplus of natural gas, largely due to increased production and above-normal temperatures. Low natural gas prices, combined with increased output from nuclear and renewables, have also led to lower electricity prices. 

NYMEX Natural Gas Forward Prices Curve 2015-2016

NYMEX natural gas forward prices have shifted lower year over year, which might be indicative of the election results or simply market fundamentals as we have more renewables coming online over time. 

NYMEX WTI 2015-2016

NYMEX WTI forward prices have also shifted shifted lower year over year. Prices are nearly $6 lower per barrel compared to last year.  

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Tim Bigler, Senior Market Strategist at Direct Energy Business, is a 30+ year veteran of the U.S. natural gas, electric, and oil market.

Posted: November 14, 2016