Daily Market Update April 6, 2018
Early Morning Update
The May18 natural gas contract is trading up $0.03 at $2.70. The May18 crude contract is down $0.20 at $63.34.
Summary
The NYMEX prompt NG contract saw a small tick down in pricing yesterday, closing lower by $.043 to finish the day at $2.675. The market has been remarkably quiet in recent weeks with trading hovering around the $2.70 level with very little movement. We’ve seen higher heating-related demand due to lingering cold weather but NG production is also high, so prices have been standing at $2.70 until we get a better picture of power burns for the summer and if NG production will continue to be high.
On the power side, we’ve seen some prices creep higher with strong demand and concerns over the news of the FES bankruptcy and pending retirement of 3 nuclear units. Texas summers remain volatile.
Market Settles 040518
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