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The Energy Information Administration (EIA) reported that US working gas in storage rose by 66 Bcf for the week ending July 31, 2009. This was viewed by the market as bearish since expectations were for an injection of 61-62 Bcf, and the market reacted by falling 25 cents (US$/MMbtu). The year-over-year surplus rose to 580 Bcf (23%) while the year-over-five year average surplus increased to 496 Bcf (19%). Storage is now at 3,089 Bcf, the highest level on record for this point in the year.
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Aeco (Cdn$/GJ)
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Nymex(U.S.$/mmbtu)
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Aug 12
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July 28
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Change
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Aug 12
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July 28
|
Change
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Sept09-Oct09
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$2.98
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$3.06
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-2.7%
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$3.62
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$3.72
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-2.6%
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| Nov09-Oct10 |
$5.08
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$4.94
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2.8%
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$5.66
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$5.57
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1.6%
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| Nov10-Oct11 |
$6.09
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$6.00
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1.4%
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$6.69
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$6.56
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2.0%
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| Nymex Prompt Prices |
Aug 12
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July 28
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Change
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Natural Gas (U.S. $ per mmbtu)
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$3.479
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$3.535
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-1.6%
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Crude Oil WTI (U.S. $ per barrel)
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$70.16
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$67.23
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4.4%
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| Currency |
Aug 12
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July 28
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Change
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| USD/CAD |
$0.919
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$0.923
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-0.5%
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On Friday, Baker Hughes reported that the number of active natural gas rigs in the U.S was 681, up 4 from the previous week but well below the 1,550 that were.....The full Market Watch is available to ECNG Customers to contact one of our specialists, call 1-888-989-1501 or email info@ecng.com
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| Average ON PEAK Price for July: |
2.9 cents / kWh |
| ON PEAK Hours over 7.0 cents: |
0.0% in July |
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5.4% year to date |
| Highest price in the past week: |
23.8 cents / kWh on Aug 8th |
The hot, humid weather in Southern Ontario on Monday August 10th certainly showed up in the demand for power as the maximum usage hit 22,306 MW. Even the average for the day at 18,474 MW was 3,300 MW higher .....The full Market Watch is available to ECNG Customers to contact one of our specialists, call 1-888-989-1501 or email info@ecng.com
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