Market Updates

Daily Market Update December 30, 2016

Daily market update

Early Morning Update

The Feb17 natural gas contract is trading down $0.04 at $3.76.  The Feb17 crude contract is down $0.17 at $53.60.

 

   

Summary

On February’s first day as the NYMEX prompt NG contract, pricing fell $.096 to close at $3.802.  The market fell despite continuing cold weather forecasts and a large storage withdrawal.  The EIA reported the 237 draw from storage and while large, was within the range of expectations.  This draw was much larger than last years’ draw of 50 Bcf and the 5-year average draw of 80 Bcf.  This is a testament to how warm last year was, and the continuing weakness in NG production

Market Update 123016

Market Settles 122916

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