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.

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