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Daily Market Update January 17, 2017

Early Morning Update

The Feb17 natural gas contract is trading down $0.05 at $3.37.  The Feb17 crude contract is up $0.83 at $53.20.


The NYMEX was closed yesterday due to the Martin Luther King holiday.  NYMEX NG prices are reflective of Friday’s close.

The NYMEX was closed for trading yesterday, but winter weather projections continue to dictate the overall market outlook. Slightly colder adjustments to the forecast for the next week still leave temperatures at least ten degrees above normal for the majority of the country, save the slightly below-average West Coast. The next opportunity for normal winter conditions won’t present itself until the first days in February. Production levels varied widely last week, falling anywhere between 68.9 and 70.4 Bcf/d, while demand also swung broadly with temperature fluctuations. Heating demand will likely take a dip as warmer weather begins to dominate, and may allow current storage levels to eclipse 5-year average values once again.

Market Update 011717

Market Settles 011617

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