Market Updates

Daily Market Update August 4, 2017

Early Morning Update

The Sep17 natural gas contract is trading down $0.03 at $2.76.  Sep17 crude is down $0.28 to $48.75.

 

Summary

Another very quiet day on the NYMEX as the EIA reported a build into storage of 20 bcf, right inline with estimates.  Prompt month traded down $.011 to close at $2.80.  NG production remains firm at near 73 Bcf/d and demand is softening as weather east of the Rockies moderates and power burns decline.  Meanwhile, LNG exports have hit a record high as flows to Sabine Pass hit 2.55 Bcf in late July as the addition of train 4 comes on-line.  LNG exports are set to increase even further as Cove Point nears completion and could start flows in September.  All of this is doing little to the long-term market as Cal ’19 and beyond have barely moved recently amid very low volume.
Power prices have also been quiet (with the exception of California) as weather is moderating and gas prices remain stable.  

 

Market Update 080417 

Market Settles 080317

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