Direct Energy Business
Market Data For Your Home Contact Us
Market Updates

Daily Market Update August 08, 2022

Early Morning Update

The Sep ‘22 natural gas contract is trading down $0.40 at $7.66.  The Sep ‘22 crude oil contract is down $0.61 at $88.40.

Summary

Total demand rose by almost 2.0 Bcf/d over the weekend, as the majority of the nation continues to deal with above-average temperatures from the summer heat. The main driving force of this demand change was from an increase in residential-commercial demand, which is up 1.1 Bcf/d. The Northeast and the Midwest are the regions that contributed most to the rise in res/comm demand. The regions rose by 0.5 Bcf/d and 0.2 Bcf/d, respectfully. Power burn, which has been the main driving factor of demand for most of this summer, has come off of year-to-date highs at the end of July and early August, and is now at 44.7 Bcf/d. However, gas used for electric generation is up 8.2 Bcf/d from what was ween last August. Natural gas production remained flat at 95.5 Bcf/d. This current production level has been stagnant for a few weeks. LNG export levels have also remained fairly flat around 11 Bcf/d. Freeport LNG has announced that they are still on track to return to operation in early October. Weather for the upcoming week is still expected to see higher-than-normal temperatures, especially in the California, Northeast, and North Texas regions.

 

Market Update 08 08 2022

Market Settles 08 05 2022

 

To subscribe to Daily Market updates please visit nrg.com

34.225.194.102