Market Updates

Daily Market Update September 25, 2017

Early Morning Update

The Oct17 natural gas contract is flat at $2.95.  Nov17 crude is down $0.18 at $50.37.

 

Summary

On Friday, NYMEX natural gas futures price for October gained 1.3 cents to settle at $2.959/MMBtu. Calendar strip prices for 2018-2021 are remaining pretty flat, only bumping up about a penny, and still remain backwardated. Weather forecasts have held onto the much above-normal temperatures for the majority of the east coast, and are calling for another spike in temperatures for the 11-15 day forecast. This could mean continued late season cooling demand, increasing the need for natural gas fired power generation and air conditioning units. The market has been keeping an eye on the tropics, with the most recent Hurricane Maria falling to a Category-1 strength storm after hitting Puerto Rico hard. Currently the only expected impact will be gusty winds and rain for the Outer Banks mid-week. Production has continued its upward trend, setting new all-time highs last Tuesday at 74.6 Bcf/d. This level surpassed the record set on Friday the week prior. Over the last couple of weeks, the amount of natural gas reported by the EIA that was injected into storage has been impressive, coming in above last year’s and the five-year average reports for the same time period. Expectations for the end-of-season storage still show a deficit to the five-year average at 3.83 Tcf. 

 

Market Update 092517 

Market Settles 092217

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...

54.162.166.214