Market Updates

Daily Market Update - March 11, 2016

Daily market update

Early Morning Update

The Apr16 natural gas contract is trading up $0.05 at $1.83.  The Apr16 crude contract is up $0.87 at $38.71.



The market continues to tick higher with the prompt NG contract finishing up $.036 to close the day at $1.788.  The market briefly traded down to $1.73 after the storage report before moving back up.  The report itself was slightly lower than most estimates but far lower than last year (-174) and the 5 year average (-118).  End-of-winter storage looks like it will be ~2.45 Tcf, very close to an all-time record.  With this exceptionally mild weather, estimates for the next two weeks call for a very small draw for the week ending 3/11 and a build of 35-40 for the week ending 3/18.  Longer term pricing continues to move higher as concerns about low drilling activity supports the market.  Cal’s ‘17-’19 have moved higher by $.25 in the last two weeks due to those concerns.

Market Update 031116

Market Settles 031016

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