Market Updates

Daily Market Update December 20, 2016

Daily market update

Early Morning Update

The Jan17 natural gas contract is trading down $0.07 at $3.32.  The Jan17 crude contract is up $0.48 at $52.60.

Summary

As warmer weather inches closer, the prompt month continues its creep downward, settling down 2.3 cents yesterday to $3.392/MMBtu. The Jan17 natural gas contract has fallen over 40 cents in the past week following bearish adjustments to weather forecasts through the end of the year. Cal17 has moved down in kind with January, but pricing for outer calendar years has ticked up a few cents.  Despite the projected warmth, mild temperatures are unlikely to boost storage, given faltering production and robust exports. Natural gas demand hit its highest level so far this year yesterday, with the residential/commercial sector accounting for nearly half of the 127 Bcf need.  Although market conditions in the past few days have benefited buyers, it still begs the question of what pricing scenarios may come in January, after experiencing a period of both extreme cold and moderate warmth so far this season.

Market Update 122016

Market Settles 121916

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