Market Updates

Daily Market Update September 19, 2016

Daily market update

Early Morning Update

The Oct16 natural gas contract is trading down $0.04 at $2.91.  The Oct16 crude contract is up $0.62 at $43.65.

Summary

In the final trading session of the week, traders worked to cover short positions, nudging the prompt month higher.  The Oct16 natural gas contract rose 2.1 cents on Friday, settling at $2.948/MMBtu.  There is little fundamental support for the uptick, as weather outlooks are beginning to show a break in the heat that has been prevalent throughout the country.  The eastern half of the country and the West Coast will continue to see above-normal temperatures, but most of the U.S. west of the Mississippi will be at or below normal for the next two weeks.  The U.S. Energy Information Administration reported that, in the week to Sep. 14, total U.S. demand for natural gas rose 4% over the previous week.  The majority of this was due to higher power burn in the Midcontinent, up 6% week-over-week, due to the higher temperatures there.  Exports to Mexico were also up 2%.  Dry natural gas production for today is at 71.1 Bcf/d, 0.4 Bf/d higher than the previous week’s average.

Market Update 091916

Market Settles 091616

Set your ZIP code and utility

Enter a valid ZIP code
Unfortunately, we don't currently service this area. Please try another ZIP code.

Loading please wait...

Don't see your utility?

We currently only provide service to the listed utilities. For question, please contact 1-888-925-9115.

Loading...

54.163.61.66