Direct Energy Business
Market Data For Your Home Contact Us
Market Updates

Daily Market Update June 19, 2017

Early Morning Update

The Jul17 natural gas contract is trading down $0.15 at $2.89.  The Jul17 crude contract is up $0.06 at $44.80.


Last week, NYMEX natural gas prices for July closed at a loss for the fourth consecutive week, settling 1.9 cents down on the day at $3.037/MMBtu. Friday’s lower settlement price followed Thursday’s gain of 12.3 cents, which was the highest price spike seen this year. Bullish fundamentals have sparked fears of oversupply in the market, along with the question of whether the heat this summer will be enough to drive demand to a level that will potentially cause the opposite effect by putting additional stress on supply. Over the past couple of weeks, the market has seen a slight uptick in production. Over the weekend, natural gas production averaged 72.0 Bcf/d, getting us out of the 70-71 Bcf/d range we had been seeing the past few months. Prices have been very sensitive to weather forecasts, with the market focusing on how much cooling demand we’ll see from air conditioning load. For this week, weather forecasts are still showing much-above-normal temperatures in the West, with some mild temperatures creeping in for mainly Mid-continent in the 6-10 day forecast. Much of the above-normal temperatures are seen in the southern and western states, while the Northeast is expected to experience mostly normal temperatures.

Market Update 061917

Market Settles 061617

To subscribe to Daily Market updates please visit