Market Updates

Daily Market Update November 9, 2016

Daily market update

Early Morning Update

The Dec16 natural gas contract is trading down $0.01 at $2.62.  The Dec16 crude contract is down $0.03 at $44.95.

Summary

Yesterday, the December 2016 prompt month reversed all gains from Monday’s trading and then some. Settling down 18 cents at $2.633/MMBtu, the prompt month has reached its lowest point since mid-August 2016. Calendars 2017, 2018, 2019, and 2020 settled down thirteen, six, three, and two cents, respectively. “It’s a blood bath”, remarked one trader when asked to comment on yesterday’s declines. The only outlier from the near-term bearish outlook is the upcoming weekend’s weather forecast, which expects a return to normal/below-normal temperatures for the east coast. If cooler temperatures linger longer than anticipated, there is potential for upward pressure. Otherwise, warmer than average temperatures are expected to dominate the country through late November, which could result in more selloffs.

Market Update 110916

Market Settles 110816

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