Market Updates

Daily Market Update - March 31, 2016

Daily market update

Early Morning Update

The May16 natural gas contract is flat at $1.99.  The May16 crude contract is up $0.02 at $38.34.

 

Summary

The market continued to drift higher as the new prompt contract finished up $.015 to close the day at $1.996.  This is the highest settle since February 10 as data showing slowing NG production is giving strength to the market.  Total US supply has been hovering between 71 - 72 Bcf/d, which is down from the highs of nearly 74 Bcf/d earlier this year.  The slowing production has also caused estimates for todays’ storage report to be for a larger draw than was forecast a week ago.  The expected draw is now forecast to be roughly 30 Bcf, larger than last year (-5 Bcf) and the 5 year average (-21 Bcf).  This is likely to be the final draw of the year.

 Market Update 033116

Market Settles 033016

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