Market Updates

Daily Market Update November 21, 2016

Daily market update

Early Morning Update

The Dec16 natural gas contract is trading up $0.08 at $2.92.  The Dec16 crude contract is up $0.96 at $46.65.

Summary

The cold front that moved through the Northeast this past weekend caused some upward movement in both the gas and power markets. The 2017, 2018, and 2019 natural gas calendar strips are up slightly day-over-day, but remain discounted to prices at the beginning of the month. Despite the current all-time record storage levels, total U.S. gas production is relatively flat from yesterday at 71.8 Bcf/d, which is still 0.4 Bcf/d above the month-to-date average and 0.2 Bcf/d below 2015 production levels. On the power side, most prices have begun adjusting to the early winter temperatures. Calendar prices at the PJM West, NEPOOL Mass, and ERCOT North Hubs are up since last week, and back to the levels seen at the end of October. CAISO has avoided the cold, and pricing remains flat across the board. Average temperatures nationwide are expected to increase towards Thanksgiving,  mostly notably reaching about 45 degrees in the Northeast.

Market Update 112116

Market Settles 111816



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