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Daily Market Update December 15, 2017

Early Morning Update

The Jan18 natural gas contract is trading up $0.02 at $2.70.  The Jan18 crude contract is up $0.28 at $57.32.



The NG market has been a uni-directional market lately, only seeming able to move lower as it did again yesterday.  After the EIA reported a 69 Bcf draw from storage, the market ticked down and ultimately finished down $.031 to close at $2.684.  The drop in prices seems somewhat surprising considering the cold temperatures that are forecasted, but the rise in production is perhaps outweighing any higher demand we may see from colder temperatures.  Daily NG production levels continue to hover near 77 Bcf, a full 10% higher than where we started the year.  The Managed Money community may not be convinced that higher weather-related demand will offset higher production which may be why they have flipped their long positions to short positions recently.


Market Update 121517 

Market Settles 121417

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