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Daily Market Update December 12, 2018

Early Morning Update

The Jan19 natural gas contract is down $0.14 at $4.26. The Jan19 crude contract is up $0.98 at $52.63.

 

Summary

Yesterday’s 13.8 cent loss for the NYMEX NG prompt month contract continued the recent trend of big swings in Winter 2019 NG prices. Over the past thirty days, the prompt month contract has moved +/- ten cents in 13 of the last 21 trading sessions. The January 2019 contract settled at $4.407/MMBtu yesterday likely due to the National Weather Service maintaining and even increasing their prediction for blanketing warmer-than-normal temperatures in their 6-10 and 8-14 day outlooks as well as natural gas production strength with expectations of even higher production levels in the future. Beyond Q1 2019, there was little change in NG prices. In regulatory news, Bernard McNamee, former executive director of the office of policy at the US Department of Energy, was sworn in to the US Federal Energy Regulatory Commission yesterday to fill Robert Powelson’s empty seat. His term will run through June 30, 2020. All five FERC seats are now filled and the next seat set to be up for grabs is Cheryl LaFleur’s, whose term runs through June 2019.

 

Market Update 121218

Market Settles 121118

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