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Daily Market Update May 5, 2017

Early Morning Update

The Jun17 natural gas contract is trading up $0.02 at $3.20.  The Jun17 crude contract is down $0.27 at $45.25.



The prompt NG contract saw a small dip in prices as the EIA reported a larger-than-expected build into storage yesterday.  The build was shown to be 67 Bcf, and the estimates were 60 Bcf.  Lower heating and cooling related demand due to mild weather allowed for the larger injection.  Weather forecasts through the next three weeks show relatively low demand continuing.  But with NG production levels still below last years’ levels, the pace of injections will be slower than last year.  End-of-season estimates still hover between 3.6 and 3.7 Tcf.  As far as price action, near term gas and power prices mostly moved lower yesterday, while longer term prices saw very little movement

Market Update 050517

Market Settles 050417

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