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Daily Market Update December 11, 2017

Early Morning Update

The Jan18 natural gas contract is trading up $0.05 at $2.82.  The Jan18 crude contract is up $0.24 at $57.60.



On Friday, the NYMEX natural gas futures price for January saw a slight gain of 0.9 cent to settle at $2.772/MMBtu. Weather forecasts for the eastern half of the country are predicting a blast of cold in the upcoming 1-5 day outlook. In the 6-10 day forecast, weather vendors are calling for the opposite, with warmer-than-normal temperatures for the majority of the West and Mid-Con areas, and a return to normal temperatures in the East. Throughout November, the market saw a lot of weather-related volatility. However, the opposite appears to be occurring so far this month, as falling prices seem to contradict the bullish news regarding weather for the major heating demand centers in the U.S. Production remains strong, after a slight decline last week due to planned maintenance on the Rover pipeline. Oil rigs are on the rise, and production continues to provide enough natural gas to support demand. This trend of higher production has led to a larger-than-expected storage report last week, while also playing a significant role in adding to the downward pressure on 2018 pricing.


Market Update 1211 

Market Settles 120817

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