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Daily Market Update August 21, 2018

Early Morning Update

The Sep18 natural gas contract is trading up $0.03 at $2.97. The Sep18 crude contract is up $0.87 at $67.30.



Natural gas futures remained relatively stable on Monday, as production levels continued close to the all-time highs set over the weekend. The September prompt month lost less than a cent to $2.941/MMBtu, the 12-month strip dropped a penny to $2.889, and the 2019 and 2020 years both moved down less than a cent to $2.822 and $2.655, respectively. The effect of a brand-new all-time high production level of 82.7 Bcf/d over the weekend overflowed to Monday, as production stayed elevated above 82 Bcf/d. Current weather forecasts show more mild temperatures throughout this weekend, but a significant heat-up for most of the country is on the horizon for the 6-20 day outlooks, as the last week of August progresses into September. This late season heat is likely to bolster demand, and could potentially edge the market over the $3.00 resistance level that has lingered for most of 2018.



Market Update 082118

Market Settles 082018

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