Market Updates

Daily Market Update - May 6, 2016

Daily market update

Early Morning Update

The Jun16 natural gas contract is flat down $.01 to $2.06.  The Jun16 crude contract is down $.61 at $43.71

Summary

The prompt NYMEX NG contract drifted lower yesterday, closing down $.065 to finish the day at $2.076.  The prompt month had been down prior to the EIA storage report, which showed an addition to stocks of 68 bcf, and never really moved from that point.  Updated weather forecasts during yesterdays’ mid-day run called for slightly warmer temperatures, which may have helped the market slide a little lower.  Longer-term gas prices did not move in tandem with the prompt month however.  Cal ’17-’19 were mostly unchanged, if up very slightly.  Power market were also mostly unchanged day-over-day and the markets seems to be waiting for more clarity on summer weather.  NG production has remained steady for the last week at 71.5 Bcf/d, a level that many assume will prevent a storage glut this fall. 

Market Update 050616

Market Settles 050516

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