Daily Market Update April 23, 2018
Early Morning Update
The May18 natural gas contract is trading down $0.02 at $2.71. The June18 crude contract is down $0.95 at $67.45.
Summary
The NG market saw a near complete reversal of the prior days’ trading activity, with the prompt month up $.079 (down $.078 the day prior) to close at $2.739. It’s really just getting back to the ~$2.70 level, where trading has been centered since early February. Milder temperatures seem set to finally arrive along the east coast after a miserably cold March and April. This should allow for heating-demand levels to fall a bit, after being higher than last years’ levels by over 8 Bcf/d.
On the power side, eastern markets continue to creep higher due to higher index pricing. Texas summers sold off slightly and California was quiet.
Market Settles 042018
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