Market Updates

Daily Market Update - March 14, 2016

Daily market update

Early Morning Update

The Apr16 natural gas contract is trading down $0.03 at $1.79.  The Apr16 crude contract is down $1.00 at $37.50.

Summary

For the sixth consecutive session, April natural gas futures finished the week by extending gains. After trading as high as $1.859/MMBtu on Friday, the prompt month eventually settled at $1.822/MMBtu, up 3.4 cents day-over-day.  Some support was offered by the latest weather forecasts, showing  much larger areas of below-average temperatures across the central portion of the country in the 6-10 day outlook, but the cooler temperatures are expected to be short-lived.  Warmer-than-normal temperatures are forecast across the western half of the U.S. and along the East Coast, while the rest of the country returns to normal temperatures in the 8-14 day outlook.  Overall, fundamentals remain relatively week, with ample storage and robust production.  However, natural gas rig counts continue to decline, causing a the rate of production growth to wane.  Dry production was at 71.9 Bcf/d over the weekend, down from the 73.8 Bcf/d record set in February.

Market Update 031416

Market Settles 031116

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