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Daily Market Update December 19, 2017

Early Morning Update

The Jan18 natural gas contract is trading flat to yesterday’s close at $2.75.  The Jan18 crude contract is up $0.14 at $57.30.



Ever-fickle weather forecasts encouraged bullish movements on Monday, as the January prompt month swelled to $2.745/MMBtu, 13 cents over Friday’s close. Cal 2018 rose seven cents overall, while 2019 and 2020 gained three and four cents, respectively. By the beginning of next week, most of the country is likely to be enveloped in colder-than-normal temperatures, and is expected to remain cold through the end of the month. Overall demand is expected to rise in tandem, increasing more than 25% through the two week look-ahead. Prior to this expected increase in demand, the U.S. is still lagging historical December demand by nearly 6.0 Bcf/d. Northeast and nation-wide production continue their rapid ascendance to new heights, as national averages are expected at 77 Bcf/d over the next two weeks. Diminished storage deficits to 5-year average and last year’s values could be on the horizon should expected outlooks prove true.


Market Update 1219 

Market Settles 121817

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