Market Updates

Daily Market Update - January 4, 2016

Daily market update

Early Morning Update

The Feb16 natural gas contract is flat at $2.34.  The Feb16 crude contract is up $1.13 to $38.17.

 

   

Summary

More volatility on the final trading day of 2016 as the market again traded higher.  Colder weather forecasts and slightly lower NG production levels are the primary reasons for the higher prices.  The Feb16 NYMEX NG contract ended the year at $2.337, up $.123 on the 31st.    Since the prompt month hit a low of $1.755 on 12/17/15, the prompt contract is higher by $.582 or 33%.  Weather has turned colder but storage is still at a very high level and unless we see sustained cold weather, storage remains at risk of being above 2.0 Tcf by the end of March.  We already expect to see storage near 3.3 Tcf at mid-January, factoring in estimates of the next three storage reports (-102, -174, -157).  And while these draws are higher than we’ve seen so far this year, they are below last year and the 5 year average, so we would add to the surplus to those benchmarks if the estimates hold true.


Market Update 1-4-16

Market Settles 12-31-2015

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