Market Updates

Daily Market Update March 10, 2017

Early Morning Update

The Apr17 natural gas contract is trading up $0.03 to $3.00.  The Apr17 crude contract is up $0.30 at $49.58.

    

Summary

Natural gas for the prompt month settled 7.3 cents higher yesterday at $2.974 after a larger than expected storage withdrawal of 68 Bcf.  Another main driver of this upward movement in price were due to a change in short term weather forecast calling for colder temperatures throughout the northeast, along with stagnant production.  While this storage withdrawal is larger than expected, it is still significantly lower than last year’s withdrawal at this time of 136 Bcf.  The cold seems to be short lived, and most of the US will again see above normal temperatures throughout the rest of March. End-of-season storage projections are still calling for around 2.1 TCF.

Market Update 031017

Market Settles 030917

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