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

Daily Market Update May 9, 2018

Early Morning Update

The Jun18 natural gas contract is trading up $0.01 at $2.74. The Jun18 crude contract is up $1.64 at $70.70.



After trading in a range of $2.706 to $2.773, searching for direction, the June NG NYMEX contract settled at $2.732/MMBtu yesterday, 0.9 cents lower than Monday's settlement. U.S. natural gas demand has fallen precipitously since last month and dry gas production levels have averaged 78.2 Bcf/d so far in May, which should allow for recovery of the current 40% natural gas y-o-y storage  deficit. Near-term downside could be limited, as many summer outlooks call for early heat, and the National Weather Service’s 6-10 and 8-14 day outlooks were both revised yesterday, indicating a greater probability for warmer-than-normal temperatures to blanket nearly the entire United States. Many of the country’s large demand centers are expected to average in the high 70s/low 80s over the next few weeks, with Washington D.C. reaching 93 degrees on Saturday, a 15 degree departure from normal. We could see higher power burns, natural gas demand for electricity generation, as a result. Longer-term calendar strip prices were slightly lower yesterday, calendars 2012-2021 trading below $2.70/MMBtu. Calendars 2020-2022 set new all-time trading lows at $2.65, $2.67, and $2.72, respectively.


Market Update 050918 

Market Settles 050818

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.