Market Updates

Daily Market Update November 22, 2016

Daily market update

Early Morning Update

The Dec16 natural gas contract is trading up $0.01 at $2.96.  The Jan17 crude contract is down $0.29 at $47.95.

Summary

The Dec16 natural gas contract settled up nearly 11 cents to a three-week high on Monday at $2.950/MMBtu, as colder-than-normal weather forecasts loom on the horizon for both the East and West Coasts. It seems that the market has finally taken indicators that the impending winter is, in fact, coming after months of near-record warmth. Future calendar strips out to 2021 have begun to coalesce within a 15 cent range around $3.00, with tightness between the calendar years increasing on a daily basis. On the U.S. LNG front, exports from Sabine Pass have eclipsed total US LNG imports for the month of November, a positive sign for future demand. Production levels continue to rise incrementally, especially in the Northeast, where many producers have focused additional investments in the final months of 2016. Nationwide demand, while elevated from colder temperatures in the near term, will have to pick up substantively to ensure support for natural gas prices.

Market Update 112216

Market Settles 112116

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