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Daily Market Update December 26, 2017

Early Morning Update

The Jan18 natural gas contract is trading up $0.03 at $2.70.  The Feb18 crude contract is up $0.19 at $58.66.



Friday’s trading activity saw the January prompt month rise nearly 7 cents to $2.667, its first gains since the previous Monday. The 2018 year gained 4.5 cents to $2.66, and the 2019 and 2020 years gained 2-3 cents each, to $2.756 and $2.804 respectively. A sharp turn in the weather outlook through the rest of the year came into view on Friday, as expectations of bitter cold grip the entire country, excepting the West Coast. Most of the East Coast, Midwest, and South are expecting anywhere from 8 to 15 degrees below normal through the first week in January. These brutal temperatures are not forecasted to relieve until the second full week in January, and bring a surge of residential and commercial demand with them. Residential and commercial demand is looking to increase 40-50% over the next two weeks, showing the highest demand levels that we have seen so far in the winter 2017-18. Production reached 77.6 bcf over the holiday weekend, but these new record highs will only help minimally to stem the large withdrawals that are expected to accompany current weather conditions.  


Market Update 122617

Market Settles 122217

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