Market Updates

Daily Market Update - January 5, 2016

Daily market update

Early Morning Update

The Feb16 natural gas contract is trading down $0.07 at $2.26.  The Feb16 crude contract is up $0.09 to $36.85.


While a healthy supply of natural gas in storage keeps downward pressure on prices, colder weather forecasts are providing some support.  Short-covering in the face of the first significant cold weather of the season limited the downside yesterday to just three-tenths of one cent, with the prompt month settling at $2.334/MMBtu.  The latest forecast from the National Oceanic and Atmospheric Administration show cold air covering most of the country over the next 6-10 days, with the exceptions of the West Coast and New England.  In the 8-14 day outlook, warm temperatures in the West expand to cover most of the U.S. west of the Rockies, while areas of below-normal temperatures shift eastward to cover more than half of the eastern U.S.  With the coming cold, withdrawals from natural gas inventories, which have been subdued so far this winter, should begin to pick up as demand increases and production continues to show signs of slowing.  Still, the market anticipates a record-high amount of gas left in storage at the end of the withdrawal season.

Market Update 010516

Market Settles 1-4-16

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