Daily Market Update October 5, 2017
Early Morning Update
The Nov17 natural gas contract is flat at $2.94. Nov17 crude is up $0.16 at $50.14.
Summary
We’re having technical issues and aren’t able to publish our power charts this morning. Hopefully we’ll have it resolved for tomorrow.
The NG market saw a slight uptick yesterday, finishing up $.045 to close at $2.94. Today the EIA will release its weekly storage report today at 10:30 ET. Estimates are calling for a build in the mid 50’s. This is well below last years’ report of 76 and the 5 year average of 91. The estimates reflect the heat and subsequent high power burns for the past week. Early estimates for next week call for a build in the mid 80’s, on par with historic averages. The market is still anticipating an end-of-season total of roughly 3.84 Tcf. Weather forecasts still show above average temps for the eastern half of the US although not hot enough to drive a/c load, rather it will avoid heating demand.
Market Settles 100417
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