Market Updates

Daily Market Update - June 13, 2016

Daily market update

Early Morning Update

The Jul16 natural gas contract is trading up $0.05 at $2.60.  The Jul16 crude contract is down $0.57 at $48.50. 


After gaining almost 45 cents (16%) since Memorial Day, the Jul16 natural gas futures contract lost 6.1 cents on Friday, settling at $2.556/MMBtu, in pre-weekend profit-taking.  Warmer-than-normal weather is expected to continue to blanket the majority of the U.S. over the next two weeks, bringing increased power burn and higher cooling demand heading into summer.  The natural gas supply-demand balance continues to tighten, as production growth stagnates and demand picks up, offering plenty of support for gas prices.  Production has remained flat through the weekend at 70.4 Bcf/d, roughly in line with last week’s average.  Natural gas demand in the power generation sector is projected to climb 1.5 Bcf/d today to 30.8 Bcf/d, while residential/commercial demand is up 1.1 Bcf/d to 12.6 Bcf/d.  Despite under-average storage injections so far this season, record-high storage levels should help pull the reins in on any future price rallies, but the abundant amount of gas in storage may become less significant if hot weather persists.

Market Update 061316

Market Settles 061016

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