Market Updates

Daily Market Update - June 21, 2016

Daily market update

Early Morning Update

The Jul16 natural gas contract is trading down $.02 at $2.73.  The Jul16 crude contract is down $0.97 at $48.40.


Jul16 natural gas futures took another jump higher yesterday, climbing 12.4 cents and settling at $2.747/MMBtu in this week’s opening session.  Weather forecasts continue to dominate the fundamentals picture, with warmer-than-normal temperatures encompassing most of the country as we head into the official start of summer.  The warmer temperatures, including some very hot spots in parts of the Southeast and across the West, should drive cooling demand significantly higher, as gas-fired generation increases to meet the cooling demand.  U.S. dry natural gas production continues to hover right around 70.5 Bcf/d, with no considerable growth in sight.  Higher demand for gas and flat production should tighten the supply-demand balance, keeping upcoming storage injections below historical levels.  After a slow start to the injection season and a slower-than-average pace to storage building, storage surpluses are expected to be less than half of what they were at the beginning of this injection season.

Market Update 062116

Market Settles 062016

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