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Daily Market Update May 1, 2017

Early Morning Update

The Jun17 natural gas contract is trading up $0.02 at $3.30.  The Jun17 crude contract is down $0.23 at $49.10.

Summary

Gas and power market prices continue to hinge on flat lining production and the potentially threatening summer weather.  Despite supply temporarily breaking through the 71bcf/d level late last week, the June contract is currently up 3cents from Friday’s close at a two-week high $3.30.  Gas demand is up almost 5bcf/d both month –over-month and year-over-year, with about 50% of the increase coming from power burns.  The balance of ’17 and calendar strips ’18 – ’20 are up about 3cents from yesterday, the biggest move coming from summer ’18.

Market Update 050117

Market Settles 042817


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