Market Updates

Daily Market Update - May 12, 2016

Daily market update

Early Morning Update

The Jun16 natural gas contract is flat at $2.17.  The Jun16 crude contract is up $0.54 at $46.77.

 

 

Summary

The continued slowdown in NG production is providing support to the market as the prompt NYMEX contract closed the day at $2.173, up $.015.  Daily data has shown total US production to be hovering near 71 Bcf/d, sometimes even lower.  Even with relatively light demand, the lower production numbers are causing low weekly injection reports and revisions to estimates for end-of-season storage.  Current forecasts show the end-of-season balance to be 4.0 - 4.1 Tcf.  That would still represent a healthy amount of gas to enter winter.  But looking ahead, if weather related demand does increase and NG production remains low, it does provide support to the theory that prices should be higher.  For todays’ report, estimates are centering on an injection in the upper 50’s, substantially below last year (+101) and the 5 year average (+79).

Market Update 051216

Market Settles 051116

Set your ZIP code and utility

Enter a valid ZIP code
Unfortunately, we don't currently service this area. Please try another ZIP code.

Loading please wait...

Don't see your utility?

We currently only provide service to the listed utilities. For question, please contact 1-888-925-9115.

Loading...

54.242.250.208