Volume 16, Issue 32 | October 14, 2019

Editor's Note

Storage Continues to Climb

Weekly review for October 6 - 12, 2019

 

On Thursday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday Oct 4, 2019 was 3,415 BCF.  This was an increase of 98 BCF from the previous week, in-line with expectations. Inventories are now 472 BCF higher than last year at this time, and only 9 BCF below the 5-year average.  The rate of storage injections this injection season has been 27% higher than the five year average, steadily erasing the deficit to 5-year average that stood at 565 on 3/8/19.  If the increased injection rate continues, next week overall gas in storage will be above the 5-year average for the first time since 9/22/17.

Prices were down this week with the PJM Western Hub 12 Month curve down 2.2% and the NYMEX natural gas 12-month curve down 2.5%.

 
 

This past week's market information is provided as a courtesy to our customers and is not indicative of, nor should be relied upon, as representative of future transactions. 



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Weather

Local Cooling Degree Days*

 


Washington, D.C. Area Cooling Degrees Days* 

 

May - 19

Jun - 19

Jul - 19

Aug - 19

Sep - 19

 Oct - 19

 Actual

215.5 

340.5

 529.5

467.5 

346

 

 Normal

121

325

 472

423 

215

 Departure from Normal

 78%

 5%

 12%

 11%

 61%

 Warmer

Warmer 

Warmer 

Warmer

Warmer

 

*Cooling degree day (CDD) data is for the Washington, D.C. area and is calculated by comparing the day’s average temperature to a 65-degree baseline. If the day’s average temperature is below 65, there are no cooling degree days that day. If the day’s average temperature is greater than 65 degrees, then subtract 65 from the average temperature to find the number of cooling degree days.