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Daily Market Update August 15, 2022

Early Morning Update

The Sep ‘22 natural gas contract is trading down $0.11 at $8.66.  The Sep ‘22 crude oil contract is down $4.29 at $87.80.


As the market digests last week’s NYMEX natural gas ride, traders are looking ahead to a mixed weather bag across the country.In “what a difference a week can make”, many eastern seaboard cities that saw temperatures in the mid-to-upper 90s just seven days ago are waking up this morning to highs struggling to reach 80, while, in south Texas, they are bracing for heavy rain over the next few days, with some areas getting 4”-8” of rain and keeping temperatures in check. In other fundamentals news, U.S. dry production continues to disappoint by averaging just under 95 Bcf/d last week, down 0.5 Bcf/d compared to the week prior. Natural gas trading was quite volatile across all terms last week, but just showing how fast the market as risen, over the past 30 days, the Sept 2022 contract has moved up $2.747 (31%) to settle Friday at $8.768/MMBtu.NYMEX Cals 2024-2030 are all trading between $4.45-$4.83, with Cal 2027 being the lowest, and Cal 2024 being the highest, and others in between.Power forwards have shown similar strength over the past 30 days, notably for Q1-23, with CAISO SP15 around $90/MWh, PJM PPL trading $120/MWh, and NY Zone J around $200/MWh.


Market Update 08 15 2022

Market Settles 08 12 2022


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