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Daily Market Update July 14, 2017

Early Morning Update

The Aug17 natural gas contract is flat at $2.96.  The Aug17 crude contract is up $0.55 at $46.63.




Yesterday the EIA reported a somewhat disappointing build into storage of 57 Bcf.  Expectations had been in the low 60’s.  The prompt NG contract had been down prior to the report and rallied on the news, ultimately trading as high as $3.02 before sliding lower throughout the afternoon to finish at $2.961, down $.024 on the day.  
Looking ahead, weather forecasts continue to point to a trend of very hot temperatures along the western 2/3 of the country and average temps along the east coast.  These weather patterns have led to lower power burn demand so far this summer, but we still have the bulk of July and August to go before we’re completely out of the woods.  Supply levels remain just above 72 Bcf/d, continuing it’s slow upward trajectory. 


Market Update 071417 

Market Settles 071317

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