Market Updates

Daily Market Update - March 17, 2016

Daily market update

Early Morning Update

The Apr16 natural gas contract is trading up $0.02 at $1.89.  The Apr16 crude contract is up $0.54 at $39.00.


Apr16 natural gas futures extended their gains yesterday, pushing up 1.7 cents to settle at $1.868/MMBtu.  Traders persisted in cashing out of their short bets as gas prices continue to escalate, with the anticipation that prices will continue to move up as we get closer to summer.  The current low prices are also encouraging power generators to use gas in lieu of coal, as the U.S. Energy Information Administration reported that 2016 is likely to be the first year that more electric power will be generated from gas than from coal.  Estimates for this week’s storage report range from a 19 Bcf withdrawal to a 6 Bcf injection, with consensus formed around a 5 Bcf pull from stockpiles.  For the corresponding week last year, 88 Bcf of gas was withdrawn from storage inventories, while the five-year average stands at an 81 Bcf withdrawal.  Bentek Energy is projecting the first injection of the year next week, followed up with a small withdrawal the following week.  It’s still too early to tell if we will finish this withdrawal season at the highest level ever, but it will be extremely close.  The titular end of the storage withdrawal season is March 31.

Market Update 031716

Market Settles 031616

Set your ZIP code and utility

Enter a valid ZIP code
Unfortunately, we don't currently service this area. Please try another ZIP code.

Loading please wait...

Don't see your utility?

We currently only provide service to the listed utilities. For question, please contact 1-888-925-9115.