Market Updates

Daily Market Update July 11, 2018

Early Morning Update

The Aug18 natural gas contract is trading up $0.02 at $2.81. The Aug18 crude contract is down $0.81 at $73.30.

 

 

Summary

After trading in a range of $2.78 to $2.835/MMBtu, the August 2018 natural gas contract continued its decent yesterday, losing another four cents and settling at $2.788/MMBtu. With revisions to weather outlooks by the National Weather Service indicating slightly more bearish conditions in the 6-10 and 8-14 day outlooks, weather continues to be a primary driver of near-term natural gas movements. U.S. dry natural gas production has slipped recently from the 81 Bcf/d high, set on July 8. However, the U.S. Energy Information Administration raised their natural gas production estimates for the remainder of this year. In the EIA’s latest “Short-Term Energy Outlook” published yesterday, 2018 production is estimated to average 81.3 Bcf/d, and 2019, 84.5 Bcf/d. Calendar strip natural gas prices also traded lower yesterday, with 2021-2023 setting, once again, fresh all-time lows. Calendars 2019-2024 are all under $2.80, ranging from $2.77-$2.60.

 

Market Update 071118

Market Settles 071018

Set your ZIP code and utility

Enter a valid ZIP code
Unfortunately, we don't currently service this area. Please try another ZIP code.

Loading please wait...

Don't see your utility?

We currently only provide service to the listed utilities. For question, please contact 1-888-925-9115.

Loading...

54.92.193.89