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Daily Market Update October 18, 2017

Early Morning Update

The Nov17 natural gas contract is down $0.05 at $2.91.  The Nov17 crude contract is up $0.22 at $52.10.



Mixed fundamentals caused the November ’17 NYMEX natural gas contract to trade on either side of the mark yesterday, before ultimately settling 1.6 cents higher at $2.962/MMBtu. The latest near-term weather forecasts from the National Weather Service call for warm temperatures blanketing the western half of the country, and cooler temperatures in the eastern half, with the exception of the Northeast, where the weather service predicts warmer temperatures. Analysts believe these outlooks should allow for lingering cooling demand, but not enough to offset the suppressed heating demand that is normal for this time of year. On the supply side, natural gas production has rebounded above 74 Bcf/d, after a 30-day force majeure on Texas Eastern Transmission was lifted Sunday evening. Regional constraints are likely to continue through this fall, as pipelines prepare for the upcoming winter.


Market Update 101817 

Market Settles 101717

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