Market Updates

Daily Market Update - August 30, 2016

Daily market update

Early Morning Update

The Oct16 natural gas contract is trading up $0.02 at $2.91.  The Oct16 crude contract is up $0.42 at $47.40.

Summary

The Sep’16 contract closed its final day of trading down 1.8 cents on Monday to settle at $2.853/MMBtu.  The near-term natural gas complex has been on a tear over the last two weeks as warm temperatures and high humidity have persisted across the northeastern U.S., driving higher-than-anticipated demand from the power sector.  Above-normal temperatures are expected to remain in place through the first half of September, leading to a continuation of the elevated power burns. Oct’16 becomes the prompt contract today at $2.896/MMBtu, having briefly tested the $3 mark in early July for the first time since September of 2015.  With fairly strong resistance in place at $3, it will be interesting to see if above-normal weather heading into the generally low demand fall season will be enough to continue this move upward.

Market Update 083016

Market Settles 082916

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