Market Updates

Daily Market Update May 12, 2017

Early Morning Update

The Jun17 natural gas contract is flat at $3.37.  The Jun17 crude contract is up $0.08 at $47.91.

 

Summary

The market rallied for the third straight day yesterday, closing up $.084 to finish the day $3.376 on new that less gas was injected into storage than had been expected.  The build into storage was only 45 Bcf, 7 Bcf less than expectations.  The market rallied on the news and is now up $.20 from the close on Monday.  Ongoing concerns about low NG production (still hovering around 70-71 Bcf/d) ahead of summer have helped to keep the market propped up.  The market is also still digesting the news that Calpine is exploring a sale, and several large generators have expressed difficulty operating in ERCOT, due to continued low prices.
Looking ahead at the weather forecast, the cool weather along the east coast if finally forecast to move out, and warm weather is set to move in, potentially bringing air-conditioning demand to the region for the first time this year.


Market Update 051217

Market Settles 051117

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