Market Updates

Daily Market Update July 19, 2017

Early Morning Update

The Aug17 natural gas contract is trading down $0.01 at $3.08.  The Aug17 crude contract is up $0.10 at $46.50. 

 

Summary

Rising more than ten cents in the past two days, the prompt month natural gas price reached a seven-week high on Tuesday.  The price of natural gas futures for August delivery settled at $3.088/MMBtu yesterday, up 6.8 cents, as the market prepared for warmer-than-normal temperatures across the majority of the U.S. to increase cooling demand and put a significant dent in the current five-year average storage surplus.  Although production has been inching up recently, rising natural gas demand is expected to outpace it, resulting in smaller-than-average storage builds in the coming weeks.  The total of the next three injections is projected to be only half as much as what is normally seen for this time of year, with the five-year average surplus anticipated to shrink to just 3%.  Estimates for this week’s U.S. Energy Information Administration’s weekly storage report range from the high 20s to the mid-30s Bcf.  This is somewhat bullish compared to last year’s 38 Bcf storage increase for the same week, and far less than the 59 Bcf five-year average.

 

 Market Update 071917 

Market Settles 071817

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