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Daily Market Update August 14, 2018

Early Morning Update

The Sep18 natural gas contract is trading up $0.02 at $2.95. The Sep18 crude contract is up $1.00 at $68.20.



The near-term natural gas market drifted downward for the second day in a row, as overall demand begins to subside slightly from the first half of the month. The September prompt month lost over a cent to $2.930/MMBtu, the 12-month strip lost less than a penny to $2.888, and 2019 and 2020 both rose less than a cent to $2.823 and $2.661, respectively. Weather forecasts have taken a slightly cooler turn nationwide, but the West Coast and Mid-Atlantic look to remain at elevated temperatures. Texas and the mid-continent are expected to remain relatively moderate through the end of this month. Power burn forecasts decrease for the remainder of this month, giving some relief to the nearly 5 Bcf/d year-over-year increase in overall demand. Production has fallen just slightly since reaching an all-time high of 82.1 Bcf/d yesterday, but levels have stayed above 80 Bcf/d for over 10 days and look to maintain their strength through the end of August.



Market Update 081418

Market Settles 081318

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