Energy Market

Energy Markets Stock Chart

Top Stories

Key Market Insights

Brent gained 7 cents on Friday settling at $50.84/bbl and WTI gained 1 cent to $47.84/bbl.

Oil prices jumped 2% Monday after the energy ministers of the world's two biggest producers Saudi Arabia and Russia jointly said that a crude production cut would be extended from the middle of this year until March 2018. Russia and Saudi Arabia together produce about 20 million bpd of crude, equivalent to 1/5th of global consumption.

Electricity Price Trends

Price Trends At Key Trading Points ($/MWH)

price trends

ERCOT HB_North averaged $22.41 for the peak real-time hours last week (5/8-5/12) after averaging $25.54 in the day-ahead. HB_Houston also underperformed in real-time as it averaged $33.27 after clearing $37.20 in the day-ahead market. Hot temperature forecasts for this week caused it to trade up to $28.50, but high winds have thus far killed the price bullishness with today trading around $25 and tomorrow trading around $24. Thus, ERCOT is generally bearish this morning with the week of May 30th to Jun 20th, which went out trading around $27 on Friday, trading $25.50 this morning.

12 month strip price

strip price

PJM WH RT June17 contract is down ($1.25) this morning from Friday’s settle price of $37.70 on decreased weather demand. The PJM WH market was mostly correlated to the gas move this past week, from Monday through Friday the contract traded from a low of $35.70 up to a high this past Friday of $37.75.

Natural Gas Price Trends

Northeast spot natural gas prices ($/MMBTU)

Natural gas spot

So far this morning, the prompt month contract (June-17) for NYMEX Natural gas is trading down over 6 cents from Friday’s settle price to a level of $3.361. The main driver of the sell-off has been less supportive weather models showing below average to normal temperatures across most of the country reducing cooling demand.

NYMEX HH 5-year futures

Natural gas spot

 

All information is pulled from Macquarie and Crius internal databases as of May 2017. All materials published on this document are based on real-time and/or historical data, and are for informational purposes only. Crius Energy makes no representations or warranties, express or implied, as to the quality, accuracy, completeness, or reliability of the information provided here. Crius Energy accepts no responsibility for any loss, damage, costs or expense (whether direct or indirect) incurred as a result of any error, omission or misrepresentation of any information on this page. This content includes predictions, estimates, or other information that might be considered forward-looking. Any forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements.