Market Updates

Daily Market Update October 31, 2016

Daily market update

Early Morning Update

The Dec16 natural gas contract is trading flat to Friday’s close at $3.11.  The Dec16 crude contract is down $0.45 at $48.25.

Summary

Last week’s market downturn was short lived with the expiration of the Nov 16 NYMEX prompt month contract, which settled at $2.76 last Thursday.  The December prompt contract opened naturally higher at $3.07, and is now up six cents since then.  There was very little movement in the calendar 2017-2019 strip pricing upon the Dec16 contract inauguration, while the consistent warm weather has driven Winter ‘16-’17 prices down four cents since Oct 1.  The supply/demand balance should remain quiet for at least the next two weeks, as temperatures throughout the large east and west coast load centers are expected to be warmer than normal.  As a result, nationwide power indexes are expected to be less than volatile as we begin to head out of maintenance season.

Market Update 103116

Market Settles 102816

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