Market Updates

Daily Market Update - August 9, 2016

Daily market update

Early Morning Update

The Sep16 natural gas contract is trading down $0.05 at $2.70.  The Sep16 crude contract is up $0.03 at $43.05.

Summary

In the opening trading session of the week, the Sep16 natural gas contract extended losses, settling at $2.748/MMBtu, down another 2.4 cents.  Weather outlooks continue to show most regions of the country to be at above-normal temperatures, but a large area of normal to below-normal temperatures is expected to cut a wide swath across the south central portion of the country.  Although weather forecasts are just slightly cooler overall, demand for natural gas is expected to taper in the coming weeks, allowing larger weekly storage builds and keeping total gas in storage on track to end the season near last year’s record level.  A 0.2 Bcf/d day-over-day uptick in Canadian imports helped to offset a 0.8 Bcf/d drop in U.S. dry production, which is at 71.0 Bcf/d today.  Power burn is up 1.1 Bcf/d from yesterday at 34.9 Bcf/d, but is still 0.3 Bcf/d lower than the previous six-day average.

Market Update 080916

Market Settles 080816

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