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Daily Market Update November 13, 2017

Early Morning Update

The Dec17 natural gas contract is trading flat to Friday’s close at $3.21.  The Dec17 crude contract is up $0.21 at $56.95.



On Friday, the NYMEX natural gas futures price for December traded within a range of $3.171 - $3.224, before settling up 1.3 cents at $3.213/MMBtu. Temperatures for the 1-5 day forecast show some normal to slightly-below-notmal temperatures for the East Coast, and some warmth in the Southwest and Midcon regions. However, more bullish weather is anticipated to return in the 6-10 day forecasts. As of October 31st, the end date of the titular injection season, the EIA reported inventory levels at 3.790 Tcf. Current colder temperatures for the majority of the larger natural gas demand centers in the U.S. is expected to result in the first withdrawal of the season for the week ending November 10th. Winter weather forecasts still do not have an agreement on what effect the La Nina will have for temperatures. Due to this lack of consensus from the weather vendors, volatility is expected to remain. On November 9th, FERC issued a four-year certificate order giving permission to gathering company Ohio River System to provide interstate natural gas transportation that would link the Rover pipeline to the Rockies Express Pipeline.


Market Update 1113 

Market Settles 111017

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