Market Updates

Daily Market Update - April 26, 2016

Daily market update

Early Morning Update

The May16 natural gas contract is trading down $0.06 at $2.00.  The Jun16 crude contract is up $0.66 at $43.30.

Summary

Natural gas futures reversed direction yesterday, virtually erasing the gains made in the previous session.  The prompt month fell 7.7 cents in this week’s opening session, settling at $2.063/MMbtu.  After a mediocre start to the injection season, the market is expecting the pace of storage building to ramp up, with this weeks report expected to show a build more in line with historical averages.  Below-average temperatures in the Northeast continue to support some extended heating demand, but increasing normal temperatures as we move into spring, as well as above-average temperatures in the West should limit overall demand.  Total natural gas demand is up 2.4 Bcf/d to 68.9 Bcf/d today, with the majority of the increase coming from the residential/commercial sector (1.8 Bcf/d), followed by an increase in power burn (0.6 Bcf/d).  U.S. dry production has been averaging 71.4 Bcf/d so far this month, down 1.2 Bcf/d from last April.

Market Update 042616

Market Settles 042516

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