Market Updates

Daily Market Update January 25, 2017

Early Morning Update

The Feb17 natural gas contract is trading up $0.01 at $3.29.  The Feb17 crude contract is down $0.48 at $52.70.

Summary

Yesterday, the Feb17 natural gas contract settled at $3.279/MMBtu, up 3.6 cents for the day.  The prompt month had traded as high as $3.350/MMBtu, but upside was limited as traders considered expectations for below-average storage withdrawals in the next two EIA reports.  The National Weather Service revised their 8-14 day outlook from warmer to cooler for the northeast U.S.  Rapidly changing weather forecasts have limited near-term sustained price moves in either direction for most of the winter.  NYMEX calendar strips for 2019-2022 continue to hover close to $2.90 MMBtu, providing a 50 cent discount in 2019 to the 12 month strip, which is currently trading at $3.41/MMBtu.

Market Update 012517

Market Settles 012417

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