Market Updates

Daily Market Update - August 2, 2016

Daily market update

Early Morning Update

The Sep16 natural gas contract is trading up $0.01 at $2.78.  The Sep16 crude contract is up $0.52 at $40.58.

 

Summary

With temperatures expected to moderate in the coming weeks and resulting power burns on the decline, Monday finished the session trading down 10.5 cents for the Sep’16 prompt contract.  Though injections into storage have plummeted, with expectations for this week a mere 2 Bcf following last week’s unimpressive 17 Bcf injection, the market appears to be taking comfort in the fact that builds in the coming weeks will further loosen the supply/demand balance leading into winter.  Storage projections for end of season remain roughly 4 Tcf, despite the near-record demand for gas in recent weeks, and production levels have remained consistent around 71 Bcf/day.  With the lack of significant changes to the fundamentals, the market will be acutely focused on weather forecasts and power burns in the coming weeks to determine fair value.

Market Update 080216

Market Settles 080116


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