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Daily Market Update March 2, 2018

Early Morning Update

The Apr18 natural gas contract is up $.02 at $2.71.  The Apr18 crude contract is down $0.22 at $60.77.

 

Summary

Yet another quiet day on the NYMEX as the Apr ‘18 contract rose a scant $.031 to close at $2.698.  This week has overall been very quiet for both gas and most power markets, ERCOT notwithstanding.  Continuing concerns about potential changes to the ERCOT ORDC, reserve margins, plant retirements and increased reliance on intermittent resources have driven summer prices through the proverbial roof.  July-Aug ‘18 has risen from $89 onpk on Feb 9 to a close yesterday of $145.
On the gas side, the EIA reported a draw from storage of 78 Bcf, roughly in-line with estimates.  East estimates for next week call for a draw in the upper 50’s with end-winter estimates currently at 1.4 Tcf.

 

 

Market Update 030218 

Market Settles 030118

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