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

Daily Market Update November 7, 2018

Early Morning Update

The Dec18 natural gas contract is trading down $0.03 at $3.52. The Dec18 crude contract is up $0.44 at $62.65.

 

Summary

Reeling from Mondays 28.3 cent gain, the December 2018 prompt month lost 1.2 cents to settle at $3.555/MMBtu yesterday. While near-term weather outlooks, predicting below normal temperatures for the eastern 2/3 of the country, support natural gas winter prices, speculation underlying the market supposes Monday was too strong of a rally, and there could be downside to the recent highs. Despite these sentiments, due to weather outlooks, residential and commercial demand is expected to rise nearly 10 Bcf/d over the next seven days, pushing total U.S. gas demand to ~83 Bcf/d. With natural gas storage anticipated to be a 13-year low heading into this winter, production growth should help ease some of the supply and demand balance. However, NG production has not shown improvement since reaching a high of 85.5 Bcf on October 31.

 

Market Update 110718

Market Settles 110618

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...

18.232.124.77