Market Updates

Daily Market Update - June 24, 2016

Daily market update

Early Morning Update

The Jul16 natural gas contract is down $.02 at $2.67.  The Jul16 crude contract is down $2.27 at $47.87.



The big news is that Great Britain voted yesterday to leave the EU, and the crude market seems to be spiraling downward in response.  As for NG, the prompt market is down $.02 after trading up $.02 yesterday.  Again, the longer terms gas contracts were basically unchanged or even down slightly as the fundamentals remain the same.  The EIA reported yesterday a build into storage of 62 Bcf, in-line with expectations.  A smaller build is expected next week, mid 40’s Bcf is the early estimate.  Production is forecast to be lower due to an outage at the Sherwood processing plant in West Virginia, which will take nearly 1 bcf of production offline.  No return date was given for the facility.  Weather forecasts look to be moderating somewhat over the next 10 days, which could help offset the outage through lower power burns.  Either way, the pace of injections into storage is quite low and end-of-season balances should be below 4.0 Tcf.     

Market Update 062416

Market Settles 062316

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