Market Updates

Daily Market Update - April 15, 2016

Daily market update

Early Morning Update

The May16 natural gas contract is trading down $0.05 at $1.92.  The May16 crude contract is down $1.09 at $40.41.

Summary

The EIA reported a surprising draw from storage yesterday, reporting a drop in stocks of 3 Bcf for the week of April 8.  The market had largely been expecting a small build of roughly 3-5Bcf, but the market fell anyway, closing down $.066 to finish the day at $1.97.  The market was able to largely shrug off the disappointing report because  weather forecasts are turning much milder, and heating related demand is expected to drop significantly.  Estimates for upcoming storage reports are reflective of the temperature change (-2, +62, +79) and that is largely what the market is paying attention to as it moved lower yesterday.  On the power side, generation outages remain quite high and if temperatures continue to increase and we see an early start to summer, index prices could start to become more volatile as the supply/demand balance would become more tight.

Market Update 041516

Market Settles 041416

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