Market Updates

Daily Market Update September 14, 2018

Early Morning Update

The Oct18 natural gas contract is trading down $0.01 at $2.80. The Oct18 crude contract is up $0.21 at $68.80.

 

Summary

A very quiet day on the NYMEX yesterday with the prompt month contract falling $.012 to close at $2.817.  Long-term markets also saw very little change as the storage report provoked no reaction from the market.  The EIA did report a build into storage of 69 Bcf but it was inline with expectations so there was little reason for pricing to move.  
The market is monitoring Hurricane Florence as it makes its way on shore.  Widespread flooding is occurring across North and South Carolina, and that is forecast to continue for several days.  Wind and rains are likely to move north into the PJM territory, which could bring power outages and equipment damage.  After the storm, weather forecasts continue to show higher than average temperatures and humidity, continuing the pattern that has been in place for many weeks now.  Many power markets have been creeping higher as this summer drags on, with the concern now being that we’ll go right from summer to winter. 

 

Market Update 091418

Market Settles 091318

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