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Daily Market Update September 14, 2021

Early Morning Update

The Oct ‘21 natural gas contract is trading up $0.11 at $5.34. The Oct ‘21 crude oil contract is up $0.55 at $71.00.

Summary

The NYMEX natural gas market saw yet another incredibly bullish day as the prompt month settled at $5.231/MMBtu, well above the previous trade ceiling at $5/MMBtu. To reach that settle price, the market moved twenty cents. Meanwhile, the energy markets in the Midcontinent saw some changes to their regulatory environment in Illinois as the state government passed an energy bill that is designed to assist the adoption of renewable energy and electric vehicles, while supporting the nuclear power plants in the state. The bill was rather rushed as it was pushed through in order to save the Byron nuclear power plant, owned by Exelon. Exelon had made it clear that without the passing of this bill by Monday, they would not refuel the plant and it would go offline. Three other plants would then follow suit within the next couple of years. This exemplifies the further support for renewable energy, even in regions where fossil fuels have dominated the market for a long time, and the ongoing debate on how nuclear power can enhance the renewable energy footprint.

 

Market Update 09 14 2021

Market Settles 09 13 2021

 

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