Market Updates

Daily Market Update - January 13, 2016

Daily market update

Early Morning Update

The Feb16 natural gas contract is trading up $0.03 at $2.29.  The Feb16 crude contract is up $0.88 to $31.32.



The front of the NYMEX curve continues to bounce around with the prompt NG contract settling down $.139 yesterday to close the day at $2.257.  Volatility in weather forecasts has been driving the market up and down lately, often with large moves.  Aside from updated weather forecasts, yesterdays’ move also seemed to be part of a broader commodity sell-off, with the crude oil contract briefly trading below $30/barrel before recovering slightly.  Gasoline futures also fell yesterday to their lowest levels in years.  Concerns over global demand for energy could potentially hurt US LNG exports, which are beginning this year and forecast to ramp up over the next few years.  Tomorrow, the EIA will release its weekly storage report.  Estimates are calling for a draw of ~180 Bcf, in-line with last year (-177) but lower than the 5 year average (-220).

Market Update 011316

Market Settles 011216

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