Market Updates

Daily Market Update - July 22, 2016

Daily market update

Early Morning Update

The Aug16 natural gas contract is trading up $0.02 at $2.71.  The Sep16 crude contract is up $0.12 at $44.87.

 

Summary

Heat continues to bake much of the country as the ‘heat dome’ becomes the dominant weather pattern.  Temperatures in many major cities are well above 90 degrees for the next few days.  Capacity tag calculation days could be set in many regions over the course of today/Monday.  But through all this, the market has remained relatively calm.  Index prices have crept up, but extreme prices have not been seen.  NG did finish up $.034 yesterday, but that was mostly due to the slightly disappointing storage injection of 34 Bcf, when the consensus estimate had been 38 Bcf.  Power burns remain very high and NG production continues to be ~70 Bcf/d.  Given this, estimates for next weeks’ storage injection is a meager 20-25 Bcf, below last year (+55) and the 5 year average (+52).  

Market Update 072216

Market Settles 072116

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