Market Updates

Daily Market Update - February 19, 2016

Daily market update

Early Morning Update

The Mar16 natural gas contract is trading down $0.02 at $1.83.  The Mar16 crude contract is down $1.07 at $29.70.


Natural gas futures for March delivery resumed their descent in earnest yesterday, despite a larger-than-expected storage withdrawal reported by the U.S. Energy Information Administration.  In the EIA’s weekly storage report for the week to Feb. 12, data showed natural gas stockpiles declined by 158 Bcf.  Market Analysts had projected a 151 Bcf pull, and the market bumped up about four cents on the news, before tumbling back down throughout the afternoon.  Ultimately, the prompt month lost $0.09 day-over-day, settling at $1.852/MMBtu.  Underground storage inventories now hold 2,706 Bcf of working gas, about 25% more than last year at this time, as well as the five-year average.  Weather forecasts continue to look bearish for the balance of the winter, and analysts are predicting an end-of-season storage level between 2.1 and 2.4 Tcf, as concerns grow that, without weather to drive demand, natural gas inventories could build to levels that test storage capacity limits this summer.

Market Update 021916

Market Settles 021816

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