Market Updates

Daily Market Update October 18, 2016

Daily market update

Early Morning Update

The Nov16 natural gas contract is trading up $0.07 at $3.31.  The Nov16 crude contract is up $0.23 at $50.17.

 

Summary

The front of the NYMEX NG curve slid lower yesterday, with the prompt month finishing down $.041 to close at $3.244.  The longer terms saw no movement, which also led to a quiet day in the power markets.  Fundamentals remain little changed as daily production data shows NG levels still near 70 Bcf.  Demand is also low due to very mild weather, with heating-related demand down Y-o-Y by over 2 Bcf/d.  Expectations for this weeks’ storage report call for a build in the upper 60’s, lower 70’s.  This continues to trend of lagging behind historic levels.  An early look at next week shows estimates for a build in the mid 60’s and season-end estimates look to be near 3.95 Tcf - below last year but still a very high level of NG in storage.

Market Update 101816

Market Settles 101716

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