Market Updates

Daily Market Update - February 24, 2016

Daily market update

Early Morning Update

The Mar16 natural gas contract is trading flat at $1.78.  The Apr16 crude contract is down $0.97 at $30.90.


The Mar16 natural gas contract fell 3.9 cents lower on Tuesday, settling at $1.782/MMBtu, more than cancelling out the previous day’s modest $0.017 gain.  Weather forecasts continue to grow warmer, and without cold weather to drive demand, support for higher prices is almost non-existent.  Total U.S. dry production is near a record level, and natural gas storage is expected to end this withdrawal season at the second highest level ever.  End-of-season projections put storage between 2.1 and 2.4 Tcf, while the 2012 season holds the record at 2,473 Bcf.  The demand for gas used for power generation is up 1.3 Bcf/d today, while residential/commercial sector demand is down 2.1 Bcf/d from yesterday, and industrial demand declined 0.2 Bcf/d.  ResComm is expected to drive total demand in the U.S. up to a high of 92 Bcf/d this Friday, a rise of 6.5 Bcf/d from Wednesday.

Market Update 022416

Market Settles 022316

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