Market Updates

Daily Market Update December 29, 2016

Daily market update

Early Morning Update

The Feb17 natural gas contract is trading down $0.09 at $3.80.  The Feb17 crude contract is down $0.19 at $53.87.

   

Summary

Another rally in NYMEX NG prices as the prompt contract rose $.169 to close at $3.93.  Cold weather forecasts and low liquidity lead the rally.  After the next five days, forecasts are calling for cold weather for most of North America into the third week of January.  Colder weather will cause higher heating-related demand and with production remaining low, it makes sense that the near-term would move higher.  And continuing the trend, the longer terms saw little change leaving a steep backwardation in the market with Cal ‘17 trading at a $.55 premium to Cal ‘18.  We expect another day of low liquidity even with the storage report at 10:30.

Market Update 122916

Market Settles 122816

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