Market Updates

Daily Market Update - January 22, 2016

Daily market update

Early Morning Update

The Feb16 natural gas contract is trading up $0.01 at $2.15  The Mar16 crude contract is up $1.59 at $31.12.

 

Summary

The NYMEX NG market bounced around a bit yesterday, trading down as low as $2.08 before recovering and finishing the day up $.02 to close at $2.138.  The market had been drifting higher prior to the storage report but when the EIA released a bearish draw of –178, the market quickly sold-off before ultimately recovering.  While the upcoming winter storm that is expected to hit the east coast this weekend is dominating news coverage, the market has largely shrugged off any impact the storm may have on prices.  Weather forecasts continue to show a warming trend for the period immediately following the storm, and the market seems to be more concerned with weak demand than any impacts from a snow storm.  Looking ahead, the cold weather these past 2 weeks should lead to large storage draws for the next few reports, with next week potentially over 200 bcf.  After those, the warmer weather forecasts should produce smaller draws, starting with the report ending 2/4/16.


Market Update 012216

Market Settles 012116

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