Market Updates

Daily Market Update - June 30, 2016

Daily market update

Early Morning Update

The Aug16 natural gas contract is flat at $2.86.  The Aug16 crude contract is down $.92 at $48.96.

 

 

Summary

A bit of a bumpy day yesterday as the prompt NG contract traded as high as $2.974, seemingly poised to hit $3.00 before falling throughout the day, closing down $.027 to finish the day at $2.863.  The daily production levels remain bullish as we’re still below 70.0 Bcf/d (69.9) but the market seemed to shrug that off.  Today the EIA will report the weekly storage levels.  Expectations call for a build into storage of 40-45 Bcf and continuing the trend of reports that are well below historical trends.  On the demand side, power burns remain elevated and will likely increase as much above average temperatures are forecast to move into most of the country.  Texas, after a very mild spring, is really heating up with the next 10 days forecasted to see some extremely high temperatures.

Market Update 063016

Market Settles 062916

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