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Daily Market Update March 14, 2018

Early Morning Update

The Apr18 natural gas contract is trading down $0.05 at $2.73.  The Apr18 crude contract is up $0.44 at $61.15.

 

Summary

The natural gas market moved only minutely on Tuesday, as cold weather continues to provide support for current pricing. The April prompt month moved up less than a cent to $2.786/MMBtu, the 12-month strip ticked up one cent to $2.95, and the 2019 and 2020 years both added less than a cent to $2.83 and $2.75, respectively. Colder-than-normal temperatures have kept their hold on the eastern half of the country, and look to continue their grip for the next two weeks. Residential and commercial demand remains slightly elevated versus last March, but the largest demand increase has been in power burn, which is up nearly 5% since 2017. Production has fallen slightly, now coming in closer to 77 than 78 Bcf/d, as it had been for most of this month. However, this still remains strong compared to last year, and will hopefully aid in the coming weeks as storage reports incorporating the recent demand bump are released. 

 

 

Market Update 031418 

Market Settles 031318

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