Market Updates

Daily Market Update December 28, 2017

Early Morning Update

The Feb18 natural gas contract is trading up $0.11 at $2.84.  The Feb18 crude contract is up $0.03 at $59.67.

Summary

Yesterday, the Jan ‘18 NYMEX contract expired at $2.738, up $.095 on the day.  As an fyi, last January expired at $3.93.  Cold weather seems to be the primary driver of higher prices as weather forecasts show very cold temperatures for the next 10 days and only slight moderation after that.  Cold temperatures are causing short-term gas and power prices to move much higher.  Gas delivered to Algonquin traded for $52 yesterday while power pricing for Mass Hub is near $200 for Onpk deliveries.  Short-term prices may continue to be volatile as cold weather grips much of the country, causing demand for NG to move higher.  The EIA has delayed the storage report until tomorrow due to the Christmas holiday.  Next week, the report will also be on Friday due to New Years holiday.

 

Market Update 122817

Market Settles 122717

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