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

Daily Market Update October 17, 2018

Early Morning Update

The Nov18 natural gas contract is trading up $0.05 at $3.29. The Nov18 crude contract is down $0.72 at $71.20. 

 

Summary

After trading on either side of the line in a range from $3.21 to $3.31, the November NG NYMEX contract ultimately settled 0.3 cent lower than Monday’s close at $3.239/MMBtu to put an anticlimactic end to the trading day yesterday. Despite yesterday’s modest loss, since debuting as the prompt month, the November NG contract has gained ~26 cents, or 8%, amid bullish fundamentals and concern for the upcoming winter. Current weather outlooks could point to an early start to the heating demand season for the Northeast and lingering cooling demand in the west, potentially limiting large storage injections during this fall shoulder season. LNG feedgas is recovering after the Cove Point facility in Maryland completed maintenance. LNG exports are now ~3.5 Bcf/d. Finally, domestic natural gas production levels have not helped, recently dipping ~1.0 Bcf/d lower than recent late September highs, though there is confidence that production will increase after pipeline maintenance season. All factors considered, the road ahead to winter is likely to be bumpy.

 

Market Update 101718

Market Settles 101618

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...

18.206.15.215