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Daily Market Update October 11, 2017

Early Morning Update

The Nov17 natural gas contract is trading up $0.05 at $2.94.  The Nov17 crude contract is up $0.08 at $51.00.



After posting losses totaling 10.7 cents over three consecutive trading sessions, the November NYMEX natural gas contract gained back 5.8 cents yesterday, settling at $2.891/MMBtu, despite an overall bearish market. This week, Scott Pruitt, the Environmental Protection Agency Administrator, announced the agency’s plans to formally withdraw the Clean Power Plan. This news comes about one week after The Department of Energy’s order requiring the Federal Energy Regulatory Commission to issue a final rule requiring “fair and full compensation” for baseload power plants, such as large coal and nuclear plants. The regulatory scene appears to have set the stage to begin addressing the controversial energy issues that currently cloud the market and could ultimately impact the wholesale power and gas markets in the future. On average, natural gas calendar strips 2019-2023 have increased about five cents over the past month, but the market remains backwardated through 2021. 


Market Update 101117 

Market Settles 101017

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