Market Updates

Daily Market Update - July 14, 2016

Daily market update

Early Morning Update

The Aug16 natural gas contract is trading up $0.02 at $2.76.  The Aug16 crude contract is up $1.00 at $45.75.


Searching for direction ahead of the weekly storage report due out this morning, Aug16 natural gas futures remained relatively unchanged yesterday, settling at $2.737/MMBtu, up a mere 0.3 cent.  Since the Independence Day holiday weekend, the prompt month has been range-bound between $2.70 and $2.80/MMBtu, with abundant gas in storage weighing heavily on prices, while hot weather and shrinking storage surpluses offer support.  Estimates for the U.S. Energy Information Administration’s weekly storage build for the week to July 8 range from 46 to 69 Bcf, with consensus in the low 60s.  Although an injection of this amount would be larger than builds seen in the last couple of weeks, it would still be bullish compared to the 95 Bcf growth in stocks seen last year for the same week, as well as the 77 Bcf five-year average.  Decreasing storage surpluses are providing some footing for the market, reinforced by diminished production and increasing demand due to warmer-than-normal temperatures.  Production yesterday measured 70.5 Bcf/d, just under the 70.7 Bcf/d six-day average.  Power burn is down 0.8 Bcf/d today, after reaching a year-to-date high of 37.7 Bcf/d yesterday.

Market Update 071416

Market Settles 071316

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.