Market Updates

Daily Market Update - June 7, 2016

Daily market update

Early Morning Update

The Jul16 natural gas contract is trading down $0.04 at $2.42.  The Jul16 crude contract is up $0.51 at $50.20.



The market continued its upward trajectory yesterday with the NYMEX prompt NG contract finishing higher by $.068 to close the day at $2.466.  Stronger power burns are keeping NG demand relatively high despite mostly mild weather throughout much of the country.  The concern is that if more extreme weather happens then power burn demand will be even higher, and the pace of storage injections will slow even more.  As it is, we’re expecting a build into storage this week in the low 60’s.  This compares to a build last year of 117 Bcf and the 5 year average build of 95 Bcf.  Lower supply is also contributing to the slow pace as we’re producing roughly 70.5 Bcf/d, down nearly 2 bcf/d from last years’ level.  The lower supply and higher demand have basically taken a storage glut off the table, with end-of-season storage levels expected to be near 4.0 Tcf - still a very healthy level but well within the total storage capacity.  

Market Update 060716

Market Settles 060616

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