Market Updates

Daily Market Update October 24, 2016

Daily market update

Early Morning Update

The Nov16 natural gas contract is trading down $0.04 at $2.95.  The Nov16 crude contract is down $0.51 at $50.34.



The prompt month natural gas futures contract finally dipped below $3.00 on Friday for the first time since Oct. 6, settling at $2.993/MMBtu.  Gas demand throughout last week decreased from 64.7 Bcf/d on Monday to just below 64.0 Bcf/d on Friday.   The Sabine Pass LNG terminal was restarted over the weekend, but the slow ramp in exports has had little impact on demand week-over-week.  Despite the bearish activity in the short term market, the current 2017-2019 gas calendar strips are up since Oct 1.  Most power prices nationwide are following this trend, as well.  Power burns are up 0.7 Bcf/d today, but remain down from last week. Temperatures in the Northeast are expected to be below average this week, which could put upward pressure on demand and energy prices.  

Market Update 102416

Market Settles 102116

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