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

Daily Market Update October 3, 2018

Early Morning Update

The Nov18 natural gas contract is trading up $0.03 at $3.20. The Nov18 crude contract is up $0.17 at $75.40.

 

Summary

Amid very warm temperatures for the East and Midwest this start of October, with PJM averaging 10 degrees above normal, the natural gas market continued its assent yesterday. The November prompt month rose 7.2 cents to settle at $3.166/MMBtu, representing the highest prompt month settlement price since January 30, when February settled at $3.195/MMBtu. Yesterday’s gains extended through Winter 2019, while contracts after March 2019 were unchanged. Once the lingering heat dissipates, heating demand is expected to take it’s place, another concerning factor from a storage perspective. The gloomy natural gas storage situation remains, with expectations that we will enter the upcoming winter at the lowest storage level since 2005.

 

Market Update 100318

Market Settles 100218

34.236.171.181