Market Updates

Daily Market Update - February 25, 2016

Daily market update

Early Morning Update

The Mar16 natural gas contract is trading down $0.06 at $1.72.  The Apr16 crude contract is down $0.45 at $31.70.

Summary

March natural gas futures edged marginally lower yesterday, as the market anticipates today’s weekly storage report amid very bearish fundamentals.  The prompt month settled at $1.778/MMBtu, down 0.4 cent day-over-day.  The U.S. Energy Information Administration is set to release weekly storage data at 10:30 this morning.  Estimates for the withdrawal for the week to Feb. 19 range widely from 76 to 163 Bcf, with a consensus formed around a 138 Bcf pull from stocks.  At consensus, the decline in natural gas inventories would be less than last week (158 Bcf), as well as last year for the corresponding week (205 Bcf) and the five-year average (144 Bcf).  Data from the National Oceanic and Atmospheric Administration shows there were 35.7% fewer heating degree days compared to the same week in 2015, and 11.3% less than normal.  The EIA has reported that total consumption increased by 5.8% for the report period to Feb. 17, which was met by stronger production and imports.  Dry natural gas production rose 0.4% week-over-week and is 1.5% higher than last year at this time, and U.S. imports from Canada rose by 14.2%, mostly from a large increase in imports into the Northeast.

Market Update 022516

Market Settles 022416

Set your ZIP code and utility

Enter a valid ZIP code
Unfortunately, we don't currently service this area. Please try another ZIP code.

Loading please wait...

Don't see your utility?

We currently only provide service to the listed utilities. For question, please contact 1-888-925-9115.

Loading...

54.80.83.123