A larger than expected injection of 28Bcf triggered a sharp selloff in the natural gas market. Likewise, a shift in forecasts calling for less intense temperatures contributed to the pullback. The September contract is now trading below $3.00/MMBtu, so such price has now become resistance. We have seen bargain hunting at this level; however, the degree of weather driven demand will dictate the next move.
Topics: ERCOT Heat Rates, Acclaim Energy Advisors, energy management consulting, Webinar, Weekly Energy Insights, natural gas
Topics: Acclaim Energy Advisors, energy management consulting, Webinar, Energy Solutions
During the past two weeks, Natural Gas has traded between a narrow range: $2.75/MMBtu & $2.90/MMBtu. Prices have limited upside potential since some utilities are switching back to burning coal. On the low end of the range, prices are supported by forecasts, which are calling for above normal temperatures in the coming weeks. Click here to watch the Video
Topics: Acclaim Energy Advisors, energy management consulting, Webinar, Energy Solutions
Natural Gas price movements have been driven by above normal temperatures across the U.S. that have increased cooling demand. Likewise, Coal to gas switching has contributed to an increase in demand for the commodity. For risk management purposes, we recommend to follow price action around significant technical indicators to best manage your exposure.
Topics: Acclaim Energy Advisors, energy management consulting, Webinar
