Market Updates

Daily Market Update October 13, 2016

Daily market update

Early Morning Update

The Nov16 natural gas contract is trading down $0.02 to $3.19.  The Nov16 crude contract is down $0.06 at $50.12.

  

Summary

The NYMEX NG market fell slightly in the near term, and rose slightly in the long term - a bit of a reversal from the pattern we had been seeing where the near term had been moving higher and the longer terms were moving lower.  Not much new to the market as production remains weak, coming in just below 70 Bcf/d and demand from power burns below last years levels.  The EIA will release the weekly NG storage report at 10:30ET today.  Estimates are calling for a build into storage in the low 80’s.  The is below last years’ report of 97 Bcf and the 5 year average of 92 Bcf.  Weather forecasts are still calling for above average temperatures for most of the country, helping to keep heating related demand for NG low.

Market Update 101316

Market Update 101216

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