Market Updates

Daily Market Update October 16, 2017

Early Morning Update

The Nov17 natural gas contract is down $0.08 at $2.92.  The Nov17 crude contract is up $0.83 at $52.28.

 

Summary

On Friday, NYMEX natural gas futures price for November gained 1.1 cents to settle at $3.000/MMBtu. This gain appears to be short lived due to the overbought conditions in the market along with bearish fundamentals regarding the weather which will result in lower overall natural gas demand. FERC has approved two Eastern gas pipelines, the Atlantic Coast and Mountain Valley, and both will provide new infrastructure to move gas from the Appalachian to the Mid-Atlantic and Southeast. The 6-10 and 11-15 day forecasts, are anticipating above-normal heat for the mid-con and northeast, both are major demand centers for natural gas and will keep heating demand levels low. Power markets are expected to see some downside following the natural gas market. U.S. production has been declining with the majority of the dip in the Northeast, and is another bearish factor reducing power-related gas demand. Sabine Pass LNG exports hit an all-time high on Friday of 3.1 Bcf, which was a day-over-day increase of about 0.33 Bcf.

 

Market Update 101617 

Market Settles 101317

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...

54.224.18.114