Market Updates

Daily Market Update May 24, 2017

Early Morning Update

The Jun17 natural gas contract is trading down $0.01 at $3.21.  The Jul17 crude contract is down $0.17 at $51.30.

 

Summary

After approaching its highest level since January, the June 2017 NYMEX natural gas contract posted an 11.1 cent loss yesterday to settle at $3.219/MMBtu. This puts the prompt month smack-dab in the middle of a 39 cent trading range seen over the last two months. NOAA retracted much of the above-normal temperatures originally forecasted to linger along the east coast and expanded the probability for below-average temperatures across the midcontinent in their 6-10 and 8-14 day weather outlook publications yesterday. Despite nuclear and coal power generation still offline for maintenance and warmer-than-average temperatures for the east and central U.S. last week, gas demand for power generation is down 1.0 Bcf/d compared to May 2016. Even with LNG exports, exports to Mexico, and U.S. industrial demand higher year-over-year, total U.S. gas demand is only up by 0.3 Bcf/d month-to-date compared to May 2016, proving how mild the conditions have been this month. If current outlooks are accurate, we could be looking at a bearish start to June, as well.


Market Update 052417

Market Settles 052317

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...

54.226.227.175