Market Updates

Daily Market Update - March 28, 2016

Daily market update

Early Morning Update

The Apr16 natural gas contract is trading down $0.03 at $1.77.  The Apr16 crude contract is up $0.40 at $39.86.

 

Summary

The market was closed due to Good Friday so there was no price movement.  For the week though, the prompt NG contract fell $.12.  Colder weather forecasts that never materialized helped to push the market lower.  Technical trading may have also helped to move the market down as prices approached $2.00.  Even as the near term markets fell last week, longer terms prices continued to tick higher.  Cal ‘17 traded up $.03 on the week and Cal ‘18 moved up $.04, continuing the trend of strength at the back of the curve.  Concerns about a slowdown in production and consolidation among the E&P community is supporting the market.  Looking ahead to storage, estimates for this weeks’ report call for a draw of –15 Bcf, which is in-line with last year and the 5 year average.  End of season storage levels are still on track to finish near 2.5 Tcf


Market Update 032816

Market Settles 032416

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