Market Updates

Daily Market Update - June 27, 2016

Daily market update

Early Morning Update

The Jul16 natural gas contract is up $.05 at $2.71.  The Aug16 crude contract is down $1.09 at $46.55.

Summary

Cooler weather forecasts helped the Jul16 natural gas futures contract close out the week with a loss on Friday, as the prompt month settled at $2.662/MMBtu, down 3.6 cents on the day.  The U.K.’s Brexit vote on Thursday has resulted in falling prices in global equity markets and most commodities.  Oil prices helped pressure natural gas prices, as well, with the Aug16 crude oil futures contract settling at $47.64/bbl, down $2.47 for the day.  U.S. dry production was up over the weekend, and is up 0.4 Bcf/d over from Friday at 70.6 Bcf/d.  Most of the gains were seen in the Northeast, which climber 0.3 Bcf/d to average 21.8 Bcf/d over the weekend, but fell slightly to 21.7 Bcf/d today.  However, countering the rise in supply is a boost in total U.S. demand, which is up 2.1 Bcf/d from the weekend at 70.2 Bcf/d.  Power burn led the increase, which is up 1.0 Bcf/d today at 34.0 Bcf/d.

Market Update 062716

Market Settles 062416

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