Market Updates

Daily Market Update September 29, 2017

Early Morning Update

The Nov17 natural gas contract is flat at $3.01.  Nov17 crude is flat at $51.56.

 

Summary

The prompt NG contract slipped a few cents yesterday, closing down $.044 to end the day at $3.017.  The EIA reported a somewhat disappointing injection of 58 Bcf.  And while that may have caused the market to rally, traders appeared to realize that over the past three weeks, in aggregate storage injections have lined with estimates almost exactly (Bloomberg = 245, actual reports = 246).  Current end-of-season estimates are roughly 3.83 Tcf.  
Current weather forecasts show the east coast getting a break from the high temperatures for a few days, but above average temperatures are forecast to return starting next week.  It won’t be as hot (90+) as this week but could still trigger a/c demand.  
NG production has levelled off a bit and is currently hovering around 74 Bcf/d.

 

Market Update 092917 

Market Settles 092817

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