Direct Energy Business
Market Data For Your Home Contact Us
Market Updates

Daily Market Update August 17, 2018

Early Morning Update

The Sep18 natural gas contract is trading up $0.03 at $2.94. The Sep18 crude contract is up $0.69 at $66.15.



A slightly higher-than-expected storage injection helped put downward pressure on natural gas prices yesterday, after the U.S. Energy Information Administration reported a 33 Bcf growth in storage inventories in the week to Aug. 10. The build was a little better than the 30 Bcf the market anticipated, but still a far cry from the 49 Bcf addition to storage stockpiles seen last year at this time, as well as the 56 Bcf five-year average injection. This was the second week in a row that the weekly storage report beat expectations, after three consecutive weeks of disappointing builds. The NYMEX prompt month contract fell 3.2 cents on the day, settling at $2.908/MMBtu. The 2019-2024 calendar strips all fell more than a penny yesterday, with the 2020-2024 strips now all below $2.76 and within 16 cents of each other. Power burns reached a weekly high of 39.5 Bcf/d yesterday, but are expected to taper off to about 35 Bcf/d over the weekend, and may fall further on cooler weather outlooks. This should help temper concerns over the end-of-season storage deficit, which is currently projected to be 479 Bcf (12%).



Market Update 081718

Market Settles 081618

To subscribe to Daily Market updates please visit