Market Updates

Daily Market Update November 18, 2016

Daily market update

Early Morning Update

The Dec16 natural gas contract is trading up $0.09 at $2.79.  The Dec16 crude contract is up $0.12 at $45.54.

 

Summary

The EIA released its weekly storage report yesterday, showing a build into storage of 30 Bcf.  The build was slightly higher than expectations but there was little market response to the report.  The market was down prior to the report and remained down, ultimately closing lower by $.061 to finish the day at $2.703  Fundamentals driving prices are little changed, with weather patterns continuing to show above average temperatures for the main heating-demand areas of the nation, for most of the next 3 weeks.  With low heating-related demand, storage levels have again broken all-time highs.  The market is largely expecting either a small build or small draw next week but after that, we should be firmly in withdrawal season, even with the mild weather

Market Update 111816

Market Settles 111716

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