ERCOT Cash – HIGH HOPES
TODAY – traders lifted prices to $125 on tight capacity concerns out of the
gates. Only to crater to the mid $40s by the midafternoon. Load trajectory
flatten and fears dismissed and prices weren’t materializing – yours!!!
PJM Cash – stronger AD pricing across the ISO today – as flows moved south
central within the ISO…largely tame today.
ERCOT Forwards – Summers soared earlier in the day as cash hopes were high –
but as the cash failed offers came in…heat rates higher but mostly on summer
PJM – ho hmm
NG – 82 Bcf injection – BULLISH number BEARISH price action – taking NG over
$4.00 requirements a larger fundamental commitment which is not supported by
existing S/D balance and weather outlook. Down on the day.
CL – up on Iraq fears – the militant group Islamic State has advanced toward
the Kurdish region of Iraq- which is oil producing…
Economy and Stocks – lower on fears of everything – Ukraine and Iraq primarily.
BITCOIN – $583
NG – $3.876
Crude – $97.63
SP500 – 1909.57
US 10-Yr – 2.414
Gold – 1314.50
**near market close