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Daily Market Update August 18, 2017

Early Morning Update

The Sep17 natural gas contract is trading down $.02 at $2.91.  Sep17 crude is up $0.11 at $47.20.



Yesterday, the EIA reported a larger than expected injection of 53 bcf.  However, prior stocks were revised lower by 9 Bcf, so the net gain of storage was only 44 Bcf.  The market seemed to take that as a somewhat bullish signal and ended up moving higher on the news, ultimately finishing higher by $.049 to close the day at $2.929.  We’ll be looking for a similar build next week as temperatures are mostly moderate and power burn demand is lower, which should allow for storage to refill at a slightly faster clip.  
Speaking of weather, it appears as though the pattern of warm west/cool east has returned as is forecast to remain through the balance of the month.  Sep/Oct still look to be slightly higher than average.


Market Update 081817 

Market Settles 081717

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