Market Updates

Daily Market Update - May 26, 2016

Daily market update

Early Morning Update

The Jun16 natural gas contract is trading down $.04 to $1.95.  The Jul16 crude contract is up $0.48 at $50.04.


US natural gas production continues to hover below 71 Bcf/d, with the latest data showing 70.8 Bcf/d which remains near the low of the year, and nearly 2 Bcf/d below the levels for this time last year.  NG demand remains fairly low at 63 Bcf/d.  Given the low production, we’re anticipating a reported build into storage today in the mid-60’s, compared to +106 Bcf last year and +97 Bcf for the 5-year average.  All this adds up to an increase in prices yesterday, with the prompt NG contract finishing higher by $.012 to close at $1.992.  Longer terms finished higher as well with the 12 month strip up $.035 and the Cal ‘18 up $.049 at $3.009.  Longer term markets have bumped up in the last week after falling since the beginning of May.  Weather forecasts have turned warmer for the next week before we expect some near average temperatures for the 2nd week of June

Market Update 052616

Market Settles 052516

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