Market Updates

Daily Market Update - February 26, 2016

Daily market update

Early Morning Update

The Apr16 natural gas contract is trading down $0.02 at $1.77.  The Apr16 crude contract is up $1.08 at $34.15.


The March natural gas futures contract rolled off the board yesterday, but not before taking one last dive after the U.S. Energy Information Administration reported a weekly storage withdrawal far less than what most analysts expected.  The Marc16 NYMEX contract expired yesterday, declining 6.7 cents day-over-day before settling at $1.711/MMBtu.  The Apr16 futures contract debuts as the prompt month today, which traded more heavily yesterday and was also down, losing 4.9 cents and settling at $1.785/MMBtu.  The market was surprised by a 117 Bcf reduction in natural gas stockpiles reported by the EIA for the week to Jan. 19, about 20 Bcf less than the consensus of estimates by market watchers.  The pull from inventories was far less than the 205 Bcf drawdown seen last year for the corresponding week, as well as the 144 Bcf five-year average withdrawal.  The data represented the most recent week of winter weather, and current forecasts don’t show hope for increases in demand any time soon.  Warmer-than-normal temperatures are expected across the western half of the country, with small patches of below-normal temperatures in the East through the second week of March.

Market Update 022616

Market Settles 022516

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