Market Updates

Daily Market Update May 4, 2017

Early Morning Update

The Jun17 natural gas contract is trading flat to yesterday’s settle at $3.23.  The Jun17 crude contract is down $0.87 at $46.95.

Summary

Trading on Wednesday was supported by the possibility of increased heating demand in the Northeast and Northwest over the next two weeks.  Demand for natural gas could also be exacerbated by above-normal temperatures in the South along the Gulf Coast and the central portion of the country, which could induce additional cooling demand and limit storage-building in the upcoming weeks.  The Jun17 NYMEX contract finished the day up 3.3 cents at $3.228/MMBtu.  Market estimates for the increase in storage inventories for the week to April 28 range from 54 to 62 Bcf.  At consensus, a 58 Bcf build would come in below last week, as well as the five-year average and last year’s injection for the same week, which posted 74, 63, and 68 Bcf injections, respectively.  The latest build brought the total U.S. working gas supply to 2,189 Bcf, some 358 Bcf below the level seen last year at this time, and 299 Bcf above the five-year average storage level of 1,890 Bcf.


Market Update 050417

Market Settles 050317

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...

54.163.61.66