Market Updates

Daily Market Update - February 12, 2016

Daily market update

Early Morning Update

The Mar16 natural gas contract is up $0.01 at $2.00.  The Mar16 crude contract is up $1.64 at $27.85.



More weakness in the market as the EIA reported a draw from storage of 70 Bcf, below most estimates.  The smaller draw left US stocks continue to build on the already huge surpluses to the storage levels of last year, and the 5 year average.  In response, the prompt NG contract slid again, falling another $.052 to close the day at $1.994.  With production that has been growing and has topped 73 Bcf/d and relatively low heating related demand, the market is struggling to find support.  Power prices also continue to drift lower, trending along with NG.  Index markets are low as well, especially western markets where very low demand and fuel prices continue day after day.  With current weather forecasts, estimates for end of season storage look to be around 2.1 Tcf - a very high level.

Market Update 021216

Market Settles 021116

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