Market Updates

Daily Market Update - August 29, 2016

Daily market update

Early Morning Update

The Sep16 natural gas contract is trading down $0.02 at $2.85.  The Oct16 crude contract is down $0.64 at $47.00.


In the biggest one-week percentage gain since April, natural gas prices rose 11% last week. The prompt month closed the week at $2.871/MMBtu, up 2.5 cents day-over-day, after the U.S. Energy Information Administration reported a below-average storage injection on Thursday and weather forecasts show continuing above-average temperatures for the eastern two-thirds of the country.  On Friday, the  Commodity Futures Trading Commission reported that money mangers investing in natural gas cut their net short position in half in the week ending August 23, indicating a more bullish outlook by hedge funds.  Coal prices, especially western Powder River Basin, have been following natural gas prices higher, but only as high as they were a year ago.  Elevated coal stockpiles have been keeping downward pressure on prices, while producers hope for higher prices before increasing production.  Meanwhile, natural gas production rebounded to 72.2 Bcf/d over the weekend, before falling 0.4 Bcf/d today to 71.8 Bcf/d.

Market Update 082916

Market Settles 082616

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