Market Updates

Daily Market Update July 6, 2018

Early Morning Update

The Aug18 natural gas contract is up $.01 at $2.84.  The Aug18 crude contract is down $0.55 at $72.39.

 

Summary

The NYMEX ticked down a few cents on an otherwise quiet day as weather forecasts show that the intense heat covering much of the country may ease just a bit, along the east coast at least.  The west coast is still forecasted to have very hot temps and has driven short-term pricing there higher.  Texas continues its escape from the hottest of temps and that has kept short-term pricing fairly low.  The August North Hub peak contract for example, has fallen $20 in the past week alone, and $75 in the past month.  August still has significant risk and is typically the hottest month in Texas but this price movement highlights the volatility there.  
NG production continues to stay high with output at nearly 81 Bcf/d now.  The EIA delayed the storage report until today due to the holiday on Wednesday.  The latest estimates for the report call for a build into storage of 75 Bcf.

 

Market Update 07618 

Market Settles 070518

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