Market Updates

Daily Market Update - March 15, 2016

Daily market update

Early Morning Update

The Apr16 natural gas contract is trading up $0.04 at $1.86.  The Apr16 crude contract is down another $0.98 at $36.20.


In this week’s opening session, natural gas futures ended a six-session rally, settling just slightly on the negative side.  The prompt month lost 0.3 cent yesterday, closing at $1.819/MMBtu, as the market’s attention turned back toward relatively weak fundamentals.  Despite data showing that producers have responded to low prices by pulling the reins in on production, the U.S. Energy Information Administration reported that production rose 0.1% week-over-week in the week to Mar. 9, which was 2.4% more than where it was a year ago.  Healthy storage inventories continue to keep downside pressure on prices, with Bentek Energy projecting a single-digit withdrawal this week, a small (30 Bcf) injection next week, and another single-digit pull the third week.  There is a good chance of ending the withdrawal season at an all-time high.

Market Update 031516

Market Settles 031416

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