Market Updates

Daily Market Update - January 19, 2016

Daily market update

Early Morning Update

The Feb16 natural gas contract is trading up $0.04 at $2.14.  The Feb16 crude contract is up $.19 at $29.69.

 

Summary

No activity yesterday as the NYMEX saw only electronic trading and the settle price remained unchanged at $2.10.  The east coast is currently dealing with very cold temperatures and a blast of snow is expected for this coming weekend, potentially bringing a foot or more of snow.  Despite difficult current weather conditions, warmer temperatures are forecast to move into the east coast starting next week, and it looks like the market is factoring milder conditions into its pricing as the NYMEX has largely shrugged off concerns over sustained cold weather.  Power prices continue to drift lower, with especially large downward moves being seen in the northeast markets.  ERCOT has also continued to move lower as summer heat rates all the way out the curve have fallen lower..  Estimates for storage this week call for a draw in the 180’s.


Market Update 011916

Market Settles 011816

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