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Natural Gas Weekly – October 21, 2021

Natural Gas Price Analysis

Natural gas report week, October 21, 2021 left market observers dizzy from the shifting price momentum. Following weeks with prompt month highs exceeding $6.00 to this week’s lows skating the $5.00 mark, many analysts are now speculating the market may have fizzled out early.

But is the current price environment one that will last through winter or are we merely looking at the calm before the winter storm? 

Fundamentally Speaking…

As we discussed in the last edition of Natural Gas Weekly, with international markets somewhat subdued by Russian promises of increased natural gas deliveries, and mild temperatures forecast through the end of injection season, domestic natural gas prices seemed to reconnect with the fundamentals that typically drive prices this time of year. As last week’s storage injection of 92 Bcf exceeded (by far) both the five-year average of 69 Bcf and last year’s injection of 49 Bcf, and with current inventories just 151 Bcf short of the five-year average, it’s unlikely prices will find support in shoulder-season storage level concerns – at least for the near future.

And even as more analysts are suggesting the worst of winter price volatility could be behind us, the recent prices that broke decade-held highs have others a little more skeptical. Either way, if you don’t have a plan to weather potential winter price storms, we can help you discuss strategies for protecting your business. Give us a call at 866-646-7322. We’re happy to help.

DEC21, settled at $5.346/Dth, down 49.1 cents
JAN22, settled at $5.461/Dth, down 47.5 cents
FEB22, settled at $5.375/Dth, down 46.0 cents
MAR22, settled at $5.095/Dth down 43.2 cents
APR22, settled at $4.027/Dth down 12.2 cents
MAY22, settled at $3.926/Dth down 9.7 cents
JUN22, settled at $3.963/Dth down 9.4 cents

Watch Out For Winter Energy Scams

As prices increase with winter temperatures, so too do energy scams. Confronted with rising energy costs, it’s not uncommon to want to relieve the pinch. Scammers are counting on that. While both residential and commercial customers are impacted by these schemes, the tactics vary. Knowing the tricks and how to confront them can help protect both your business and your personal utility accounts.

We monitor these scams regularly and work to keep you updated with the latest pitfalls. From phone calls spoofed to make them appear as though they are coming directly from the utility to misleading emails designed to provoke fear, you can keep up to date with commercial energy scams at our news page. We’ll let you know what to look for, tips for handling scammers, and steps you can take if you think you’ve been scammed.

When it comes to your service at home, instead of just paying the amount due each month, it’s important to carefully review your invoice.  Learn more through one Toledo man’s experience with an electric scam here.

Natural Gas Market Report – October 21, 2021

November NYMEX

November NYMEX graph for natural gas October 21 2021 report

Settled Thursday at $5.115/Dth down 5.5 cents from Wednesday’s close at $5.170/Dth. Down 57.2 cents, week-over-week.

12 Month Strip

12 month strip for natural gas October 21 2021 report

Settled Thursday at $4.528/Dth, down 26.0 cents from the prior week.

Seasonal Strips

seasonal strip for natural gas October 21 2021 report

The winter strip (NOV21-MAR22) settled Thursday at $5.278/Dth, down 48.6 cents from the week prior. The summer strip (APR22-OCT22) settled Thursday at $3.991/Dth, down 9.9 cents from the week prior.

Calendar Years 2022/2023

Calendar year 2022 and calendar year 2023 for natural gas October 21 2021

CY22 settled Thursday at $4.355/Dth, down 18.7 cents from the prior week. CY23 settled Thursday at $3.596/Dth, down 2.3 cents from the prior week.

Prices Have You Uneasy?

Give us a call. We can help you manage risk and navigate the current price volatility.

We’ll evaluate your current contract and explore your natural gas buying options.
Call us at 866-646-7322 for a no-cost, no-obligation analysis today.

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