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Daily Market Update October 12, 2018

Early Morning Update

The Nov18 natural gas contract is trading up $0.01 at $3.23. The Nov18 crude contract is up $0.88 at $71.85.



What a difference a day makes.  Temperatures along the east coast have dropped by roughly 25 degrees over the course of 24 hours.  And it looks like the heat is finally over for the year as forecasts show normal to cooler temps for the balance of the month.  
Yesterday the EIA reported a build into storage of 90 Bcf, in-line with expectations.  We only have a few more injections forecast for the season and it appears the final storage total will end up around 3.32 Tcf, a 13 year low heading into winter.  The market did fall yesterday, closing down $.062 to end the day at $3.222.  The prompt month contract was down as low as $3.153 before recovering.  The prompt month has tried several times to break above $3.25 but has not yet been able to sustain trading above that level.  Whether we make another run at it remains to be seen but the market is clearly more volatile as we approach winter. 


Market Update 101218

Market Settles 101118

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