Market Updates

Daily Market Update September 28, 2016

Daily market update

Early Morning Update

The Oct16 natural gas contract is trading down $0.06 at $2.93.  The Nov16 crude contract is up $.52 at $45.19.

 

Summary

After spending most of its second last day of trading hovering around the $3 level, the Oct16 natural gas contract eventually settled relatively unchanged yesterday.  The current prompt month closed the day at $2.996/MMBtu, down just one-tenth of a penny.  November futures, which move into the front month position on Thursday, were, again, more heavily traded, and lost 0.5 cent, settling at $3.050/MMBtu.  Reaching 20-month highs, prices rose above $3 last week due to lingering warmer-than-normal temperatures, which have kept demand for gas elevated, especially in the power generation sector.  This time of year normally sees cooler temperatures, and an accompanying subsiding of demand for natural gas.  Weather outlooks continue to show above-average temperatures across the western half of the country, and below-normal temperatures in the West.  This pattern is expected to continue through the first half of October.

Market Update 092816

Market Settles 092716

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