Market Updates

Daily Market Update - January 26, 2016

Daily market update

Early Morning Update

The Feb16 natural gas contract is trading up $0.03 at $2.19.  The Mar16 crude contract is up $0.41 at $30.75. 

Summary

In the opening session of the week, Feb16 natural gas futures saw significant volatility, trading as low as $2.081/MMBtu and as high as $2.175/MMBtu, before eventually settling at $2.158/MMBtu, up 1.9 cents on the day.  Warmer weather forecasts kept a lid on prices, while expectations for the largest storage pull of the season to be announced this Thursday provided support.  Weekly storage withdrawals have been growing due to several weeks of colder weather, which were topped off by the first major storm of the winter season in the East.  While the current cold continues to offer limited support to natural gas prices, overall market sentiment remains bearish, with abundant storage, robust production, and warmer temperatures on the way.  U.S. dry production is at 71.9 Bcf/d today, down 0.1 Bcf/d from Monday, with a 0.2 Bcf/d decline in LNG offset by a 0.2 Bcf/d increase in Canadian imports.  Demand in the residential/commercial sector dropped 0.7 Bcf/d to 42.6 Bcf/d, accompanied by a 0.2 Bcf/d drop in gas used for power generation, which stands at 24.9 Bcf/d.

Market Update 012616

Market Settles 012516

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...

54.224.150.24