Market Updates

Daily Market Update - February 22, 2016

Daily market update

Early Morning Update

The Mar16 natural gas contract is trading down $0.02 at $1.78.  The Mar16 crude contract is up $1.71 at $31.35.



The trend lower continued for the NG market as the prompt contract fell again, closing down $.048 to finish the week at $1.804.  Persistently low heating demand coupled with very strong production has kept the market trending lower.  Total US supply has been at/near record breaking levels for several weeks now, with the current level just over 74 Bcf/d, which includes ~1 Bcf/d of LNG imports.  Weather forecasts show pockets of cold from time-to-time but do now show extended periods of very cold weather, something that is needed to keep storage from realizing very high levels to as we exit winter.  The west coast continues to be show above average temperatures, as does Texas.  In Texas, record wind production is also helping to keep index pricing there at extremely low levels, often in the single digits.  Looking ahead, estimates for the storage report this week call for a draw of 135-140 Bcf, lower than last year (-204) and the 5 year average (-144).

Market Update 022216

Market Settles 021916

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