🌟 NYMEX Running Up while California Basis Collapses 🌟

🌟 NYMEX Running Up while California Basis Collapses 🌟


GPT

🚀 THE One Minute Energy Update for 5-23-24 🚀

#NYMEXUpAgain

#PG&EBasisFallsToANickel

#SoCalBasisGoesNegative

#WeatherGettingBullish

#CarbonOffsets

📈 NYMEX Pricing Today:

  • Open: $2.79
  • High: $2.92
  • Low: $2.73
  • Current: $2.81

📊 NYMEX Yearly Averages:

  • 2024: $3.17
  • 2025: $3.61
  • 2026: $3.96

📈 Monthly Averages:

  • 2024 (YTD): $1.98
  • 2023: $2.73
  • 2022: $6.64
  • 2021: $3.84

📏 Moving Averages:

  • 50-day: $1.97
  • 20-day: $2.31
  • 9-day: $2.59

📍 Price Resistance: $3.05/$3.15
📍 Pivot: $2.99
📍 Support: $2.90/$2.80

💥 BASIS Pricing:

  • PG&E CG: 2023 Avg: $9.83, 2024 Avg (YTD): $3.51
  • SoCal CG: 2023 Avg: $10.95, 2024 Avg (YTD): $3.29
  • SoCal Border: 2023 Avg: $8.14, 2024 Avg (YTD): $2.65

🚢 LNG & NG Exports/Imports:

  • LNG Exports Avg: 13.0 Bcf/D
  • Mexico Exports: 6.7 Bcf
  • Canadian Imports: 6.1 Bcf

🔄 Supply & Demand:

  • Today's Est. Supply: 107.4 Bcf
  • 7-Day Avg Supply: 106.8 Bcf
  • Today's Est. Production: 101.3 Bcf
  • Today's Est. Demand: 95.5 Bcf

🔧 RIG COUNT:

  • Oil Rigs: 497 (up 1)
  • NatGas Rigs: 103 (unchanged)
  • Total Rigs: 604 (down 116 YoY)

📦 STORAGE:

  • Current Storage: 2,711 Bcf
  • Above Last Year: 402 Bcf
  • Above 5-Year Avg: 606 Bcf

ğŸŒž WEATHER:

  • Southern US: Hot (mid-80s to 90s)
  • Texas: Scorching (mid-90s to 100s)
  • Northern US: Mild (60s to 80s, cooler in Rockies)

💡 Forecasts:

  • 5-10 Days: Bullish
  • 10-15 Days: Bullish
  • 3 Months: Bullish
  • Summer (July-Sep): Bullish

🛢️ CRUDE OIL:

  • Current Price: $77.55
  • 2024 Estimate: $76.14
  • 2025 Estimate: $72.35
  • 2026 Estimate: $69.07

🔋 CA RETAIL POWER:

  • CAISO Price: $15+ per MWh

🌍 CARBON OFFSETS:

  • Prices: $1 to $375 per unit

🔹 THE BOTTOM LINE 🔹 NYMEX continues to surge as we move out of Spring Shoulder Season. Summer's heat will likely support higher prices. California Basis, influenced by near-maximum storage levels, shows significant drops. However, NYMEX's rise offsets some of these benefits.

Are you strategically buying your energy products separately? If not, you might be leaving money on the table!

💼 Indicative Fixed Prices (June '24):

  • PG&E CG: 1M - $2.85 | 3M - $3.65 | 6M - $4.05 | 12M - $4.95 | 24M - $5.25
  • SoCal CG: 1M - $2.75 | 3M - $4.20 | 6M - $4.65 | 12M - $5.50 | 24M - $5.90
  • SoCal Border: 1M - $2.15 | 3M - $3.84 | 6M - $4.20 | 12M - $5.05 | 24M - $5.54

Summer Strip (Apr '24 - Aug '24):
PG&E CG: $3.80 | SoCal CG: $4.45 | SoCal Border: $4.05

Winter Strip (Nov '24 - Feb '25):
PG&E CG: $5.75 | SoCal CG: $6.30 | SoCal Border: $5.98

Let's stay ahead of the market together! 💪🔋🌍

#EnergyUpdate #NaturalGas #EnergyManagement #CarbonOffsets #MarketTrends #EnergyProcurement #NYMEX #RenewableEnergy