Market Updates

Daily Market Update October 25, 2016

Daily market update

Early Morning Update

The Nov16 natural gas contract is trading down $0.01 at $2.82.  The Nov16 crude contract is up $0.08 at $50.60.

Summary

Nov16 pricing tumbled over 16 cents yesterday, settling down at $2.831/MMBtu. The prompt month has lost 31 cents in the last two trading sessions, and is at its lowest level since mid-September. Since hitting nearly two-year highs on October 13th, prompt month pricing has dropped 14%. Despite these movements, drastic pricing changes are isolated to the near-term. Future calendar strip pricing was altered only slightly, with Calendars 2017 & 2018 down about one cent and Calendars 2019 & 2020 up less than one cent. Temperatures for an increasingly large portion of the country are expected to be from 5 to 8 degrees above normal for the next two weeks. Nationwide, production has increased 0.75 Bcf/day week-over-week, as pipeline maintenance activities are wrapping up in preparation for the beginning of winter. NG storage remains at a 1% surplus to last year’s historic levels, and increasing production, coupled with weak heating demand, could push storage numbers to rival 2015.

Market Update 102516

Market Settles 102416

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