Market Updates

Daily Market Update - April 6, 2016

Daily market update

Early Morning Update

The May16 natural gas contract is trading down $.04 to $1.91.  The May16 crude contract is up $0.78 at $36.67.

 

Summary

Weather forecasts for the next ten days continue to trend colder in the northeast but the market largely shrugged off that bullish news and fell $.044 to close the day at $1.954.  With demand creeping higher and production continuing to slow, the market had been gaining strength and several times tried to break above $2.00.  But near-term fundamentals remain weak with storage still at record levels and concerns about a storage glut weighing on the market.  We are starting to see early summer forecasts and many vendors call for above average temperatures for much of the country, especially in the north and west.  Texas is a bit of a mixed bag with some vendors even showing below normal temperatures for ERCOT.  Estimates for tomorrows’ storage report call for a build near 10 bcf.    


Market Update 040616

Market Settles 040516

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