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Daily Market Update September 10, 2018

Early Morning Update

The Oct18 natural gas contract is trading flat to yesterday’s close at $2.77. The Oct18 crude contract is up $0.60 at $68.35.

 

Summary

After a week of temperatures in the upper 90s, it feels like fall has hit the East Coast. The remnants of Tropical Storm Gordon are pushing through most of the Atlantic coast and the Midwest, keeping temperatures and load slightly below normal. These wet conditions are forecasted to persist through the middle of the week, before temperatures climb above normal by the weekend. We’ll also keep an eye on Hurricane Florence’s pathway as it closes in on the Carolinas, expected to make landfall on Thursday. Weather for this week in TX and CA looks to be slightly below normal, as well. The state-wide rainfall in TX has dampened the chances for 4CP this week. We’re also monitoring a tropical disturbance that could hit the Gulf of Mexico later this week. As a result of the bearish weather, gas pricing has lost a penny or two since the weekend. Outside of the continued index volatility in CA, most of the U.S. power markets have been fairly quiet. 

 

 

Market Update 091018

Market Settles 090718

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