Market Updates

Daily Market Update - March 23, 2016

Daily market update

Early Morning Update

The Apr16 natural gas contract is trading up $0.02 at $1.88.  The Apr16 crude contract is down $0.55 at $40.90.


Revised near-term weather forecasts, showing colder-than-normal temperatures across most of the country with shrinking areas of above-average temperatures along the coasts, helped to push up natural gas prices yesterday.  With gains limited by a burgeoning supply, Apr16 natural gas futures rose 3.5 cents on Tuesday, settling at $1.863/MMBtu, and regaining half of the losses seen in the previous session.  Cooler weather at this time of year could maintain some increased heating demand, which, in turn, would cause larger withdrawals from storage than previously anticipated.  However, projections still show end-of-season storage inventories at a record level, which should renew downward pressure on gas prices as the present cold snap passes, mild weather returns, and demand abates.  Demand in the res/comm sector is down 1.5 Bcf/d today, with smaller decreases in industrial demand (0.3 Bcf/d) and power burn (0.2 Bcf/d).  Production is down 0.4 Bcf/d day-over-day at 71.6 Bcf/d.

Market Update 032316

Market Settles 032216

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