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Weekly Market Video Update - May 14, 2012

Hans Rottmann, Senior Manager—Market Intelligence

Click here for the downloadable weekly Canadian Market Update.

 

 Reference Chart #1 Reference Chart #2 Reference Chart #3  Reference Chart #4
               

 



DAILY MARKET UPDATES

  • Click here for the Canadian Weekly Market Update.

  • Market Update for May 17, 2012
    The June '12 natural gas contract is up 2.7 cents to $2.645. June '12 crude contact is down 6 cents at $92.75.
     

  • Market Factors:

    Bullish Factors
    - Coal-to-gas switching
    - Potential production cutbacks
    - EPA regulations (long-term only)
    - Below-average additions to storage

    - Bearish Factors
    - Natural gas glut
    - Mild weather

  • Next-day Power Traded for 5/17/12
    Mass Hub
    $27.70    		 Cin Hub
    $29.58    		 NY Zone A
    $28.00
    PJM
    West Hub
    $32.92    		 ERCOT
    North
    $29.02    		 CA
    SP15
    $32.60

  • Summary for 5-17-12
    The June '12 contract increased 11.8 cents, closing at $2.618. The market jumped significantly because of revised forecasts for warmer weather at many major consuming hubs Crude continued its downward spiral, hitting a 6-month low because of ongoing concerns about the viability of the European Union and U.S. inventory levels that are the highest they've been in decades.

    EIA Storage Report: 5-17-12

    The EIA reported an injection of 61 Bcf, which was slightly above expectations.

    Storage now stands at:2.667 Tcf

    Last year: 1.893 Tcf

    5-year average: 1.894 Tcf

 
 

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