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Daily Market Update June 26, 2018

Early Morning Update

The Jul18 natural gas contract is trading flat to yesterday’s close at $2.92. The Aug18 crude contract is up $0.12 at $68.20.



The near-term natural gas market softened on Monday, in response to new all-time production highs and the expectation of continued high-volume supply. The July prompt month lost 2.2 cents to $2.923, the 12-month strip dropped 1.5 cents to $2.906, and 2019 and 2020 moved down less than a penny each to $2.802 and $2.675, respectively. National weather looks to be mostly moderate today, but the promise of rising temperatures is lingering on the horizon for almost the whole country, with the exception of near-normal Texas. Temperatures in the Midwest and East look to stay at least 5 degrees above normal through the 20-day forecast, while the West looks to be slightly more average at three degrees above the 30-year normal through the next two weeks. Production continues to show its capabilities, as the next two weeks are estimated to stay above 79 Bcf/d. Boosts from not only the Northeast, but also the Rockies have helped to propel production levels to new heights, and have kept gas from trading too much above $3 recently, despite higher year-over-year demand.


Market Update 062618 

Market Settles 062518

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