Daily Market Update December 31, 2018
Early Morning Update
The Feb19 natural gas contract is trading down $0.18 at $3.12. The Feb19 crude contract is up $0.60 at $45.93.
Summary
The sell-off continued Friday with the (now prompt) Feb ‘19 contract falling $.243 to close at $3.303. With that move lower, the market has retraced back to the lowest levels since Nov. 4 (prior to the huge run-up). A mild second half of December and a warm-ish start to January in the forecasts have pushed the market lower. This is the exact opposite of what happened last year when the second half of December and early January were frigid. For those who are thinking that winter is over, the potential for cold certainly exists for the back half of Jan and February (and March for that matter). For now though, this has been an impressive self-off, for both power and gas markets.
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