Market Updates

Daily Market Update - July 5, 2016

Daily market update

Early Morning Update

The Aug16 natural gas contract is trading down $0.09 at $2.89.  The Aug16 crude contract is down $1.29 at $47.70.


Prompt month natural gas prices rose for the fifth straight week, and settled ahead of the holiday weekend at the highest level since May of last year.  Getting a boost from summer demand, the Aug16 natural gas contract closed on Friday at 2.987/MMBtu, up 6.3 cents day-over-day.  While U.S. dry production has made some headway in recovering some of the losses seen early last week, warmer-than-normal temperatures are expected to envelop most of the country over the next two weeks, bringing increased cooling demand along with higher power burns.  Weather has already been hotter than normal in many areas of the country, and gas-fired generation has increased to cover unexpectedly low nuclear, hydropower, and wind production.  Also, power burn remains high despite foundering coal prices and evidence of increased gas-to-coal switching.

Market Update 070516

Market Settles 063016

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