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Daily Market Update May 25, 2018

Early Morning Update

The Jun18 natural gas contract is flat at $2.94. The Jul18 crude contract is down $1.88 at $68.83.

 

Summary

The NYMEX prompt month contract continued its march towards $3.00 yesterday by moving up $.026 to close at $2.94.  Yesterdays settle was the highest prompt month settle in nearly 4 months.  The primary reason for the month higher has been the above average temperatures that have blanketed almost all of the country, causing an increase in gas demand for power generation.  As you can see from the weather maps below, it appears as though these warm conditions are set to stay with us for at least the next two weeks.  Texas especially is experiencing very warm temperatures.  And because of the tight reserve margin this year, we are already seeing high prices.  Prices for August in ERCOT are trading near $240 onpk, a sign of real concern.  
Starting next week (June 1) it’s PLC/cap tag/4CP season.  Contact your Direct Energy representative for strategies to reduce usage and save money.

 

 

Market Update 052518 

Market Settles 052418

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