Market Updates

Daily Market Update November 14, 2016

Daily market update

Early Morning Update

The Dec16 natural gas contract is trading up $0.06 at $2.68.  The Dec16 crude contract is down $0.76 at $42.65.


Another warmer-than-normal week is expected as the bearish weather, record storage, and soft demand levels continue to drive, both, short- and long-term gas and power prices nationwide.  Weather forecasts show balmy temperatures extending through the beginning of December, although there is still some concern that January could turn very cold and lead to large storage withdrawals.  The December NYMEX contract opened this morning at $2.69/MMBtu, but traded as low as $2.55 last week - only 11 cents above the 17-year lows that were set towards the end of last February.  The reactionary downward market movement  in the longer term strips has been less severe than in the short term, as calendar 2017, 2018, and 2019 are all down about 18, nine, and six cents respectively since the beginning of November.  Most notably, summer ‘17 and winter ‘17-’18 are both down 16 and 14 cents within that same time frame.

Market Update 111416

Market Settles 111116

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