Daily Market Update February 27, 2017

Early Morning Update

The Apr17 natural gas contract is trading down $0.10 at $2.68. The Apr17 crude contract is up $.52 at $54.51.

Summary

Despite a slight uptick in Northeast demand over the weekend, mild temperatures remain as the April delivery contract continued its spring slide opening down 10cents this morning at $2.68. This is the lowest price the prompt month has hit since last April, two months into the post-winter rally that began last February. NYMEX calendars ’18, ’19, and ’20 pricing remained flat over the weekend, while the summer ’17 and winter ’18 strips are up 3-5cents day-over-day. Production sustained 70-71bcf since Friday as about 27bcf was chipped away from storage inventory. ERCOT, CAISO, and PJM retained their near all-time lows through 2020 over the weekend while the NY, MISO, and NEPOOL premiums held strong. The March contract expired on Friday, and April is now the prompt month.

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Daily Market Update February 27, 2017

Early Morning Update

Summary

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