Market Updates

Daily Market Update November 2, 2017

Early Morning Update

The Dec17 natural gas contract is trading up $0.03 at $2.92.  The Dec17 crude contract is down $0.10 at $54.20.

Summary

Dec17 natural gas futures remained relatively flat yesterday, slipping just 0.3 cent and settling at $2.893/MMBtu.  With bearish fundamentals putting downward pressure on prices, the market seems to be taking advantage of the 7.3 drop in prices over the last two days, as the market is up a few cents this morning.  U.S. dry production is down 0.5 Bcf/d from Wednesday to 74.5 Bcf/d today due to a drop in Northeast production.  On the demand side, power burn increased 0.7 Bcf/d day-over-day and LNG feedgas is up 0.4 Bcf/d, while demand in the res/comm sector rose 5.5 Bcf/d.  The U.S. Energy Information Administration is set to release their weekly storage report at 10:30 this morning, with the market estimating an injection in the mid-60s.  In contrast to last week’s build, which was about 10 Bcf less than normal for this time of year, the growth in storage inventories for the week to Oct. 27 is expected to be 5-10 Bcf larger than the 60 Bcf five-year average.  Currently, there are at least two more injections projected for this storage-building season.

 

Market Update 1102 

Market Settles 110117

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...

54.162.166.214