Market Updates

Daily Market Update November 8, 2016

Daily market update

Early Morning Update

The Dec16 natural gas contract is trading down $0.10 at $2.72.  The Dec16 crude contract is up $0.24 at $44.65.


Much anticipated cooler temperatures for the East Coast seem to be on the horizon, but are currently somewhat limited in their effects on the NYMEX prompt month. Dec16 prices settled up nearly five cents at $2.816/MMBtu, a meager 1.77% day-over-day increase, but the first move higher seen in five days. Temperatures aren’t expected to slide to levels more normally seen in November until this weekend, but the forecast revisions still swayed prices to the upside. Longer term futures crept upward as well, with calendar strips 2017 through 2019 increasing three to five cents. US Demand dips to around 66 Bcf/d today, but will gradually rise over the next few weeks to an average of 74 Bcf/d. During this same period, production is projected to stay steady at 71.3 Bcf/day, which will reverse the supply-demand balance and kick off the natural gas withdrawal season.

Market Update 110816

Market Settles 110716

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