19
Sep

Wrap – Week Ended 09/18/20

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Holdings Watch:

Solid week for the ZLT with the portfolio up 6.1%.

We added to one of our wind positions last week.

The blotter is updated.

Notable:

Prompt gas has 10 days left in its contract, and fell 10% last week on milder weather, Sally demand impacts, and a bigger than expected storage draw.

LNG exports are jumping higher as Sabine is back from Laura and Cameron is about to start taking gas again as well. Asian LNG demand is ramping up again.

The Strip sees this and was off less than 2% last week and is up 15% since the end of July and vs year ago levels. There is no material change to our peak storage expectation for 2020.

Saudi addressed short sellers last week essentially saying don't bet against OPEC+'s resolve right now. So we have this going into that meeting.

Have a good weekend.

  • Questions and comments under The Wrap will be addressed in the Monday post.
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One Response to “Wrap – Week Ended 09/18/20”

  1. 1
    zman Says:

    Interesting reading watch

    U.S. nuclear capacity outages were 35% higher in summer 2020 than 2019

    https://www.eia.gov/todayinenergy/detail.php?id=45176

    Also notes Duane Arnold 601 MW retired early after storms in Iowa,
    Indian Point 998 MW retired in spring.

    In 2008 the US had 100,755 MW nuclear capacity.
    by 2019 that was 99,433.

    Now below 98 GW. Plays into natural gas generator’s hands as that is very reliable baseload that no longer exists.

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