Market Updates

Daily Market Update - May 25, 2016

Daily market update

Early Morning Update

The Jun16 natural gas contract is trading flat at $1.98.  The Jul16 crude contract is up $0.58 at $49.20.


After trading as high as $2.087 during yesterday’s session, the prompt month natural gas contract eventually broke through and settled below the $2.00 mark.  Jun16 natural gas futures closed the day at $1.980/MMBtu, 7.5 cents lower than Monday’s close.  Despite strengthening fundamentals, the contract slid lower as traders sold off positions ahead of today’s options expiration and before June rolls off the board at the close of business tomorrow.  Weather is still the primary driver of natural gas prices right now, and forecasts indicate increasing cooling demand in store as warmer-than-normal temperatures dominate the eastern two-thirds of the country in the 6-10 day outlook, and expand to envelope all but Texas and parts of the Southwest in the 8-14 day outlook.  Coupled with a slower-than-average pace of storage rebuilding, this should help to limit additional losses as surpluses are trimmed and the market rebalances itself.

Market Update 052516

Market Settles 052416

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