Market Updates

Daily Market Update July 13, 2017

Early Morning Update

The Aug17 natural gas contract is trading down $0.03 at $2.96.  The Aug17 crude contract is down $0.04 at $45.45.

 

Summary

The National Weather Service’s latest weather outlooks show slightly cooler weather than previously forecast across a large swath of the southern U.S., and the natural gas market reacted accordingly.  After seeing impressive gains in the first two sessions of the week, when the natural gas prompt month increased by more than 18 cents (6.4%) and climbed above $3.00, Wednesday saw prices retreat, falling 6.2 cents to settle at $2.985/MMBtu.  Weather has been the primary driver of market fluctuations over the past several weeks, as forecasts changed with increased regularity.  2018-2023 calendar strips also fell yesterday, while 2018-2020 prices remain backwardated.  The market is anticipating a growth in storage for the week to July 7 in the mid-60s, which is much higher than the 38 Bcf build seen last year for the same week, but right in line with the  66 Bcf five-year average injection.  Storage inventories are currently 6.9% higher than the five-year average, according to the U.S. Energy Information Administration, who is scheduled to release their weekly storage data at 10:30 this morning.

 

Market Update 071317 

Market Settles 071217

Set your ZIP code and utility

Enter a valid ZIP code
Unfortunately, we don't currently service this area. Please try another ZIP code.

Loading please wait...

Don't see your utility?

We currently only provide service to the listed utilities. For question, please contact 1-888-925-9115.

Loading...

107.22.109.65