Market Updates

Daily Market Update June 11, 2018

Early Morning Update

The Jul18 natural gas contract is trading up $0.05 at $2.94. The Jul18 crude contract is down $0.64 at $65.10.

 

Summary

On Friday, the July 2018 NYMEX natural gas futures contract dipped lower by four cents on the day to settle at $2.890/MMBtu. Throughout the day, the prompt month saw some volatility, and was rangebound between $2.875/MMBtu and $2.936/MMBtu before ultimately settling down due to a lack of bullish fundamentals. Moderating weather forecasts provided downward pressure to near-term pricing, as demand for natural gas had also weakened in the power generation and ResComm sectors. This relief in demand could be short-lived, as weather forecasts warm over the next couple of weeks, with the majority of the heat contained in the Midwest and western portions of the country. Friday, U.S. production remained strong at 78.6 Bcf/d, but could be disrupted due to a pipeline blast which occurred on June 7th, and caused a force majeure on the TCO line.

 

Market Update 061118

Market Settles 060818

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