Laserfiche WebLink
Clse 1:20-bk-12043 Doc 281-1 Filed 08/26/20 Entered 08/26/20 10:01:13 Desc <br />COAL TRADER THURSDAY, AUGUST 13, 2020 Exhibit A Publications Page 23 of 35 <br />US NATURAL GAS IN STORAGE: CHICAGO PRICES INCENTIVIZE STRONGER MIDWEST STORAGE INJECTIONS <br />Chicago cash prices have risen 19 cents/MMBtu over the past seven days from the previous seven days. September and October futures have risen even more, <br />jumping 22 cents. The winter strip, however, only rose 13 cents. The August spread with the winter strip now stands at $1.17/MMBtu, widening further from September <br />and October's $1.09 and 98 -cent spreads, respectively. While storage injections in the Midwest have increased 800 MMcf/d from last month, averaging 3.1 Bcf/d, <br />injections typically peak in September. The widening spread with the winter strip this month could ensure additional injection activity in the region this month. This <br />would put the region once again at risk of filling its remaining 285 Bcf of 1.043 Tcf capacity earlier than normal. <br />MIDWEST STORAGE ON PACE TO MAX OUT EARLY <br />CANADA (Bcf) <br />j1000 <br />2020 <br />i <br />800 5 -yr avg <br />I 1 <br />i <br />600 � <br />I <br />400 <br />tiiWEST � I <br />200 Jan Feb Mar Apr May Jun Jul Aug <br />I <br />US NATURAL GAS STORAGE FORECAST <br />• <br />(Tcf) <br />Ch"10 city-getes 5 Forecast <br />Current price $1.92 EAST <br />Weekly change $0.03 4 <br />Yearly change -$0.09 j <br />Five-year m $243 <br />3 I <br />I <br />2 <br />1 <br />SOUTH CENTRAL <br />• <br />Henry Hub <br />Source: S&P Global Platts Analytics, US Energy Information Administration <br />MMBtu at the beginning of August to current levels of around $2.15. <br />The winter strip, November through March, has strengthened to a <br />lesser degree, narrowing spreads from summer to winter to around 70 <br />cents from 90 cents for most of the summer to date. <br />SU Global Platts Analytics' supply and demand model currently <br />forecasts a 40 Bcf injection for the week ending August 14. This <br />would lower the surplus to the five-year average by 4 Bcf. <br />Total supplies are up 900 MMcf/d on the week to average 92.7 <br />2020 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 1 6 <br />0Jun-19 Oct -19 Feb -20 Jun -2G Oct -20 I <br />US NATURAL GAS STORAGE HISTORY <br />(Tcf) 5-yearrange -- 5 -year average — 2019 <br />5 <br />I ' <br />4 <br />3 <br />2 <br />1 <br />0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec <br />Bcf/d. Production increases occurred primarily in Oklahoma, which <br />increased 400 MMcf/d. This was bolstered by higher receipts in the <br />Northeast and Texas as well which added a combined 400 MMcf/d. <br />Downstream, total demand has risen even more, as the power <br />sector has taken an additional 2.2 Bcf/d of demand compared with <br />the week ended August 7. LNG feedgas demand also continues its <br />recovery, growing by 500 MMcf/d over the previous week. <br />— Brandon Evans, Eric Brooks <br />