Market Updates

Daily Market Update - July 28, 2016

Daily market update

Early Morning Update

The Sep16 natural gas contract is trading up $0.02 at $2.68.  The Sep16 crude contract is up $0.03 at $41.95.

Summary

After traders squared their books and closed the Aug16 natural gas contract for good yesterday, September assumed the top spot as the prompt month today.  In its final day of trading, Aug16 futures lost 4.0 cents, with a final settle of $2.672/MMBtu, while the Sep16 contract settled at $2.660/MMBtu, down 1.7 cents.  The U.S. Energy Information Administration is scheduled to release their weekly storage report this morning at 10:30, and analysts estimate the EIA’s data to show a 27 Bcf growth in storage inventories.  This would continue the trend of below-average injections, and is barely half of what is usually seen at this time of year.  Both the five-year average and the build for the same week last year were 52 Bcf.  Despite cutting surpluses significantly since the beginning of the season, end-of-season projections show this year’s storage building may still challenge the all-time record set at the end of 2015’s injection season of 4,009 Bcf.  Power burn continues to decline, dropping 2.2 Bcf/d from yesterday to 38.3 Bcf/d today.

Market Update 072816

Market Settles 072716

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