Direct Energy Business
Market Data For Your Home Contact Us
Market Updates

Daily Market Update August 29, 2017

Early Morning Update

The Sep17 natural gas contract is trading up $0.02 at $2.94.  Oct17 crude is up $0.13 at $46.70.



Hurricane Harvey retains its spot on the cover of market news, as parts of the Houston area are drowning in upwards of 40” of rain, with more heavy rainfall and catastrophic flooding expected to continue throughout the day.  Latest estimates indicate approximately 350,000 people are without power in the Houston and Louisiana areas, which is surprisingly fewer than the market had originally anticipated.  Additionally, about 331k barrels of oil and almost 0.6 Bcf/d of Gulf gas production remains offline, complementing the 6,700 MWs of disconnected generation.  As a result, the September contract, expiring at the close of business today, was boosted and settled up 3.3 cents at $2.93/MMBtu.  NYMEX calendar strips ’18-‘22 are up a penny this morning, most likely because markets have lacked liquidity and participation over the last few days.  On the bright side, the storm is forecasted to leave town by Thursday.  Temperatures in the Northeast and Midwest continue their bearish, below-average outlook, while the western heat wave is expected to persist through the third week of September.  Outside of weather-related index volatility in CA, forward power prices appear to be stable and ready for fall.


Market Update 082917 

Market Settles 082817

To subscribe to Daily Market updates please visit