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Daily Market Update June 1, 2018

Early Morning Update

The Jul18 natural gas contract is down $.01 at $2.94. The Jul18 crude contract is down $0.53 at $66.51.



The NYMEX prompt month contract ticked higher throughout the day and ultimately finished up $.067 to close at $2.952.  The market had been higher in the morning but a slightly disappointing storage report pushed prices even higher.  The prompt month approached $3.00, trading as high as $2.988 before sliding a bit to finish the day.  There should be strong resistance at $3.00 so we’ll see if the market is able to break above it.  
Weather forecasts have moderated and the next two weeks show near normal temps along the east coast.  The west and southwest is a different story with some scorching conditions being seen.  
Today, June 1, is the official start of Peak Demand season.  From now until the end of September, we’ll be sending out alerts when conditions warrant to manage demand-based charges.



Market Update 06118 

Market Settles 053118

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