Direct Energy Business
Market Data For Your Home Contact Us
Market Updates

Daily Market Update May 24, 2018

Early Morning Update

The Jun18 natural gas contract is trading up $0.01 at $2.92. The Jul18 crude contract is down $1.04 at $70.80.

 

Summary

The NYMEX natural gas contract for June delivery settled up just slightly higher yesterday, boosted by warm weather outlooks and higher demand in the power generation sector.  The prompt month settled at $2.914 on Wednesday, up just 0.6 cent from Tuesday’s close.  Also adding upward pressure to natural gas prices is concern over storage deficits.  Currently, storage inventories lag behind last year by 35%, and are in 25% deficit to the five-year average.  After last weeks huge 106 Bcf build, the market is expecting a storage injection more in line with historical averages.  A market survey shows estimates ranging from 87 to 102 Bcf, with a consensus around 93 Bcf, while Bentek Energy is projecting an 89 Bcf addition to storage stockpiles for the week to May 18, which is right in line with the five-year average for this time of year.  Storage building is off to a slow start this year, with only 184 Bcf growth so far this season.  Inventories had increased by 308 Bcf by this time last year, and the five-year average increase is 338 Bcf.

 

Market Update 052418 

Market Settles 052318

Set your ZIP code and utility

Enter a valid ZIP code
Unfortunately, we don't currently service this area. Please try another ZIP code.

Loading please wait...

Don't see your utility?

We currently only provide service to the listed utilities. For question, please contact 1-888-925-9115.

Loading...

3.81.28.94