Market Updates

Daily Market Update October 4, 2016

Daily market update

Early Morning Update

The Nov16 natural gas contract is trading down $0.04 at $2.87.  The Nov16 crude contract is down $0.20 at $48.60.

     

Summary

A quiet day on the NYMEX as the prompt NG contract finished up by $.017 to $2.923.  The market opened a bit lower but drifted higher throughout the day, although there was little overall movement.  The unusual note about yesterday was that the longer terms moved higher than the near terms, although none of the moves were dramatic.  Bullish for the long terms, is the fact that production continues to be lower.  For the first three days of October, daily production has fallen short of 70 Bcf, potentially propping up the longer terms.  Expectations are that production levels will grow from now throughout 2017 from the current level of just below 70 Bcf/d to near 75 bcf/d.  Any disruption to those levels could cause the lower prices for Cal ‘18 and Cal ‘19 to move higher as future production will not meet expected increases in demand (LNG exports, power burns, exports to Mexico).


Market Update 100416

Market Settles 100316

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