Market Updates

Daily Market Update January 9, 2017

Early Morning Update

The Feb17 natural gas contract is trading down $0.08 at $3.21.  The Feb17 crude contract is down $1.09 at $52.90.

Summary

Despite frigid temperatures across most of the country, the February natural gas delivery contract is trading at $3.21, down eight cents from Friday’s close.  Today’s opening price represents an erosion of almost 20% over two weeks from the $3.90 that was marked on December 26th, 12% of said downturn occurring since January 1st.  It appears that short-term weather remains in the market fundamental spotlight, causing large sell-offs amongst managed money's speculative positions. The 20-day outlook shows a dramatic shift to much-above-normal temperatures in the major U.S. load zones, which should suppress residential heating demand.  Last week's weak storage withdrawal has only been mildly offset by flat-lining production, as 2019 - 2021 on-peak calendar strips are within 5% of all-time lows in each market.  Fear of 2018 Q1 winter volatility continues to trade at a premium in MISO, NYISO, NEPOOL, and PJM on-peak strips, preventing any  significant downturn for the calendar year prices.

Market Update 010917

Market Settles 010617

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...

54.226.132.197