Market Updates

Daily Market Update October 19, 2016

Daily market update

Early Morning Update

The Nov16 natural gas contract is trading down $0.09 at $3.17.  The Nov16 crude contract is up $0.71 at $51.00.


Ending a two-day losing streak, Nov16 natural gas futures rose 1.9 cents yesterday, settling at $3.263/MMBtu. The prompt month traded as high as $3.31 early in the session, but gave back some gains as the day progressed. The outer years (2018-2021) all moved up slightly, as well, but no more than a penny. The market is turning its attention to this winter, and the debate over how cold it will be grinds on. Preliminary winter forecasts vary widely, from below-normal to normal. One thing on which most forecasters agree, this winter will be colder than last winter. More accurate winter forecasts are published in November. For now, warmer-than-normal temperatures are expected across most of the country through the end of October. The cooler-than-normal temperatures forecast for the West and the Northeast looks to be short-lived, as above-normal temperatures return to the Northeast and the West normalizes in the first week of November. As the days grow shorter, the warmer weather does become increasingly bearish, as it holds off any heating demand brought on by the approach of winter.

Market Update 101916

Market Settles 101816

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