Market Updates

Daily Market Update - July 13, 2016

Daily market update

Early Morning Update

The Aug16 natural gas contract is trading up $0.05 at $2.78.  The Aug16 crude contract is down $0.40 at $46.40.


The market continues to try to measure increased demand due to above-average temperatures against an abundant storage inventory.  Aug16 natural gas futures traded as high as $2.751/MMBtu yesterday, and as low as $2.687/MMBtu, before settling at $2.734/MMBtu, up 3.2 cents on the day.  Warmer-than-normal temperatures are forecast to continue to engulf the majority of the U.S. for at least the next two weeks, with some major heat seen in the central portion of the country.  Despite smaller-than-average storage injections so far this season, the U.S. Energy Information Administration revised its end-of-season storage level to 4,022 Bcf, which would be a new all-time high if realized.  Natural gas production is up 0.1 Bcf/d today at 70.3 Bcf/d, while total demand is outperforming the six-day average of 70.3 Bcf/d, and could continue to grow on power burn as temperatures continue to rise, especially in the East.

Market Update 071316

Market Settles 071216

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