Market Updates

Daily Market Update - March 22, 2016

Daily market update

Early Morning Update

The Apr16 natural gas contract is trading up $0.02 at $1.85.  The Apr16 crude contract is down $0.32 at $41.20.


In this week’s opening session, which also marked the first trading day of spring, Apr16 natural gas futures dropped 7.9 cents, settling at $1.828, as overall bearish conditions dominated concerns over increased weather-related demand.  Weather forecasts show a huge mass of below-normal temperatures blanketing the majority of the central part of the U.S., while both coasts remain above-normal.  However, storage inventories are at five-year highs and have a good chance of ending the withdrawal season at the highest level ever.  U.S. dry production fell 0.7 Bcf/d from yesterday, but not surprisingly, so did total demand.  Day-over-day, power burn is down 0.9 Bcf/d, while residential demand tumbled 6.6 Bcf/d.  Total demand is projected at 74.7 Bcf/d today, an 8.4 Bcf/d decrease from yesterday.  While the current cold snap may have fueled some increased late-season heating demand, normal temperatures are on the rise as we move into spring, which is calming fears of any large spikes in demand and keeping the bulls corralled.

Market Update 032216

Market Settles 032116

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