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

Daily Market Update November 21, 2018

Early Morning Update

The Dec18 natural gas contract is trading up $0.10 at $4.62. The Jan19 crude contract is up $0.83 at $54.26. 

Summary

Chipping away at some of the recent gains in NYMEX, the Dec’18 – Mar’19 strip was down yesterday by as much as 43 cents and ultimately settled down 18 cents at $4.389/MMbtu. The 2019 strip followed suit, settling down 8.9 cents at $3.151/MMbtu, while 2020 improved on its significant value over 2019, settling at 2.621/MMbtu, a drop of 4 cents on the day. 
Yesterday set a new high mark for natural gas production at 85.7 Bcf/d, which is expected to fall back to near 85 Bcf/d for today. This segues into the anticipation over today’s early release of the EIA Storage Report, due to the Thanksgiving holiday, which will kick off the 2018/19 withdrawal season. Estimates are looking for a withdrawal of 112 Bcf, a significant increase from the 2017/18 season’s initial withdrawal of 18 Bcf, and the year-ago withdrawal of 46 Bcf. 

 

 

Market Update 112118

Market Settles 112018

3.233.215.231