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Daily Market Update November 20, 2018

Early Morning Update

The Dec18 natural gas contract is trading down $0.07 at $4.63. The Dec18 crude contract is down $0.95 at $56.25.

 

Summary

Sustained volatility in the winter months dominated the market on Monday, as the Dec18-Mar19 strip rose 43 cents to $4.57/MMBtu. In addition to the rising winter strip, April 2019 gained over 20 cents on Monday, as well, settling above the $3 mark at $3.06. The 2019 year closed up 16 cents at $3.24, and 2020 stayed essentially flat at $2.66. Lower-than-normal temperatures look to spread across the country through the end of the month, lending itself to continued volatility when paired with meager storage numbers. Production remains strong near 85 Bcf/d, but nearly all of the increase year-over-year is being utilized to meet higher demand, led by higher residential and commercial demand (4.7 Bcf/d above 2017) and exports (1.7 Bcf/day higher than 2017).

 

Market Update 112018

Market Settles 111918

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