Market Updates

Daily Market Update September 12, 2016

Daily market update

Early Morning Update

The Oct16 natural gas contract is up $.05 to $2.84.  The Oct16 crude contract is down $0.94 at $44.94.

 

 

Summary

NG saw a bumpy week last week with the NYMEX NG prompt month contract ultimately finishing the week unchanged at $2.79.  Monday, Tuesday and Wednesday all finished lower last week, then after a disappointing storage report, the market rallied sharply before finishing quietly on Friday.  NG fundamentals remain little changed, with daily production levels hovering around 71.5-72 Bcf/d.  Power burns are now lower than this time last year as mild weather finally moves into the east coast.  And it seems like we’re finally set to have a storage injection on par with historical levels, with the expectation set around 70 Bcf this week.  Short-term power prices are falling now that the weather is moderating.  With lower cooling demand, index prices have fallen are trending at low levels.  Forward power prices are a bit mixed.  Some northeast locations remain strong as the heat has only just relaxed but the western markets have moved lower as temps there have been milder.

Market Update 091216

Market Settles 090916

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