Market Updates

Daily Market Update - March 4, 2016

Daily market update

Early Morning Update

The Apr16 natural gas contract is trading down $0.02 at $1.62.  The Apr16 crude contract is up $0.33 at $34.90.

 

Summary

The slow drift lower for the front of the curve continued yesterday as the prompt NG contract settle lower by $.039 to finish the day at $1.639.  With exceptionally warm weather, low heating related demand and strong production, the market has little support and seems to find new lows everyday.  The somewhat bullish EIA storage report of –48 yesterday did little to stop the slide.  The longer terms though have reversed the slide and have been moving higher since reaching the all-time lows on Thursday.  Ongoing concerns about the need to slow production in the face of this low price environment have propped up the market.  Worries over the financial stability of many producers is also causing concern that production may slow.

Market Update 030416

Market Settles 030316

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