Wholesale Natural Gas is currently trading at $3.227 per DTH
Given that the Easter Weekend is upon us and that today is my wife Nancy’s birthday, I am going to keep this short this week.
We did not see a lot of movement in the gas market this week. There were reports that both the drilling rig count and drilling permit requests are up, hence an expectation of more gas coming to market down the road. We also saw stories this week on the lingering winter weather, but with warmer (and perhaps record heat) down the road. Combined with a ho-hum storage report of a +10 BCF build in inventory, we are now sitting at $3.227 /Dth, up 4 cents for the day. So the narratives around the adequacy of our gas supply and summer weather continued to lead the headlines this week.
For the week, the Summer strip was down 7.5 cents to $3.329 /Dth while the 2017/18 Winter Strip was down 5.4 cents to $3.573 /Dth. Meanwhile. The 2018 Calendar strip was up 0.9 cents week-on-week to $3.108 /Dth while the 2019 Calendar strip lost 0.6 cents to $2.849 /Dth.
Happy Easter everyone!