Market Updates

Daily Market Update February 28, 2018

Early Morning Update

The Apr18 natural gas contract is trading up $0.01 at $2.69.  The Apr18 crude contract is up $0.05 at $63.23.

 

Summary

With little change in market fundamentals, the April 2018 NG contract settled at $2.683/MMBtu, 0.3 cent lower, on its first day as prompt month. Dominion Energy’s Cove Point LNG export facility has been commissioning, and the Gemmata LNG tanker, off the coast of Maryland, could begin loading LNG exports today. Sabine Pass, the LNG export facility in Louisiana, has also had increased activity, setting a recent high of 3.2 Bcf/d after a low point on February 16 of 1.0 Bcf. Residential and commercial demand has trended lower over the past week, offsetting increased demand from exports. Current outlooks provide little support for Res/Comm demand this week. However, the National Weather Service’s 6-10 and 8-14 day outlooks show potential for an uptick, forecasting below-normal temperatures for most of the United States, outside of the Northeast.

 

 

Market Update 022818 

Market Settles 022718

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