Market Updates

Daily Market Update June 27, 2017

Early Morning Update

The Jul17 natural gas contract is trading up $0.01 at $3.04. The Aug17 crude contract is up $0.57 at $43.95.

 

Summary

Continuing its weather-dependent whims, the July gas month jumped nearly 10 cents on Monday after forecasts for the next two weeks took a warm uptick. The prompt natural gas contract settled at $3.027/MMBtu, over $3.00 for the first time in a week, as short-term weather outlooks shifted to fall more in line with the warmer-than-average overall temperature expectations for summer. Gas demand is expected to grow by more than five Bcf/d by next week, with averages looking to be in the 67 Bcf/d range. The warmer weather should spark an increase in power burns, which have been struggling due to higher prices and abnormally cool late June weather. For the last week in June, power burn is expected to be 28.4 Bcf/d, their lowest point since 2014. This statistic is noteworthy largely because of the 17,000 MW of gas-fired generation that has been added in that same three-year term.

 

Market Update 062717

Market Settles 062617

 

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