Daily Market Update December 28, 2018
Early Morning Update
The Feb19 natural gas contract is trading down $0.21 at $3.33. The Feb19 crude contract is up $0.35 at $44.96.
Summary
The Jan ‘19 NYMEX contract expired with a rally, closing up $.175 to expire at $3.642. The Feb ‘19 contract is now the prompt month. Overnight, weather forecasts looks to have been revised to show slightly warmer temps through the middle of Jan, helping push prices lower this morning. Power prices have also been weaker as index pricing has been low, especially in NY and NE. The storage report will be released today at 10:30. Estimates are calling for draw in the high 30’s, very low for this time of year (-122 last year and -121 5-yr average).
Loading please wait...