- Natural gas NYMEX closed for February at the 2nd highest price since December 2014.
- The natural gas storage withdrawal for the week ending January 19th tied the 2nd highest storage reduction on record at 288 Bcf.
- High natural gas storage withdrawals over the next month
- Can natural gas supply keep pace with demand
- Currently NYMEX is trading at $3.05/MMBTU
The non-heating and no air conditioning “shoulder season” extended well into early November in 2017 pushing NYMEX prices down to $2.738/MMBTU the second lowest level of 2017.
1. Natural gas closed at the end of November for December flow $.32/MMBTU higher than from a month earlier.
2. 2017 natural gas prices experienced both volatility and stability
Special Mid-Month Energy Update
The natural gas NYMEX Hub price closed in late October at $2.75/MMBTU.
November 2017 Energy Market Update
- Increasing NG exports
- Increasing NG use in electric generation by replacing coal
- Stable to growing industrial demand for NG
- Winter is expected to be colder than last two winters
- Short-term 6-8 and 8-14 days above normal temperature forecast
- Upcoming storage injections expected to be at or above 5 year injection averages
- NG storage injection season will likely be extended a couple of weeks due to 6-8 and 8-14 above normal temperature forecasts.
Our final question, “how do you crack the nut to success.” Maybe for a manufacturer your quest is to figure out how to make the production and distribution process leaner and more efficient. Finding high quality and very competitively priced parts so your product sales,
October 2017 Energy Market Update
- Bullish signals: short term weather forecasts and strong production
- Bearish signals: sharp reduction of storage surplus, Increased NG exports, increased industrial demand for NG and hard sell off in Petroleum markets
We are now in the shoulder month of the energy season.
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