Market Updates

Daily Market Update November 16, 2016

Daily market update

Early Morning Update

The Dec16 natural gas contract is trading up $0.04 at $2.75.  The Dec16 crude contract is down $0.31 at $45.50.

Summary

With colder weather in the eastern U.S. creeping into weather forecasts, the prompt month contract rallied yesterday morning, trading as high as $2.822/MMBtu, before ultimately settling at $2.7090/MMBtu, down four cents on the day. Monday’s rally could not be sustained in the long term, but is evidence of how quickly prices can turn on any bullish sentiment. Calendar strips for 2017-2020 moved down two to three cents yesterday and are now trading within nine cents of each other. Sabine Pass LNG export terminal reported record high export volumes of 1.587 Bcf/d yesterday. With only two trains in operation and a theoretical maximum capacity limit of 1.554 Bcf/d, this would indicate that the commissioning process for the third train is underway. Train 3 is expected to be completed in June 2017.

Market Update 111616

Market Settles 111516

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