The Energy Information Administration released their weekly report on yesterday.
And now a look at regional, specifically Pacific.
Prices in West Coast markets remain the highest of all major pricing hubs this report week. The price at PG&E Citygate in Northern California rose 65 cents, up from $3.07/MMBtu last Wednesday to $3.72/MMBtu yesterday. The price at SoCal Citygate in Southern California increased $1.11 from $2.18/MMBtu last Wednesday to $3.29/MMBtu yesterday. The price at Sumas on the Canada-Washington border rose 47 cents from $1.70/MMBtu last Wednesday to $2.17/MMBtu yesterday. Natural gas consumption in the Western region increased by 13%, or 0.9 billion cubic feet per day (Bcf/d), which was led by a 38% (1.0 Bcf/d) increase in consumption in the electric power sector, according to data from S&P Global Commodity Insights.
Select inventories of EU and UK...
Prices rose sharply on the EU and UK markets this past week. Nearby by months by 8% with max 12 month at 2.5%.
I have no real explanation, as I never bothered to research reasons. Although it is not so unusual for summer months, for there to be a spike. Afterall... hot weather is here.
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