Market Updates

Daily Market Update - July 20, 2016

Daily market update

Early Morning Update

The Aug16 natural gas contract is down $0.04 at $2.68.  The Aug16 crude contract is down $0.15 at $44.50.



A quiet day on the NYMEX as the prompt NG opened the day higher but drifted lower as the day progressed.  No new news on the fundamental side, with NG production still hovering around 70 Bcf/d.  Power burns remain high as temperatures nationwide are still above average, but none of that is new.  While temperatures are forecast to be above average for most of the nation for the next two weeks, it looks like there will be a slight easing of the hot conditions starting at week three.  But considering the current production levels and higher power burns, it is no surprise to see estimates for this weeks’ storage injection below 40 Bcf, well of last years’ pace of 72 Bcf and the 5 year average of 62 Bcf.  Over the next two weeks, the storage surplus to last year could dip to near 400 Bcf, after being over 1000 Bcf earlier this spring - a remarkable turnaround.  

Market Update 072016

Market Settles 071916

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