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

Daily Market Update September 19, 2018

Early Morning Update

The Oct18 natural gas contract is trading down $0.01 at $2.92. The Oct18 crude contract is up $0.10 at $69.95.

Summary

Despite significant revisions to the National Weather Service’s 6-10 and 8-14 day outlooks indicating more bearish temperatures, the NYMEX NG prompt month contract continued its upward trend yesterday. The October 2018 contract soared to $2.933/MMBtu, a gain of 11.9 cents from Monday’s settlement price, the largest one-day prompt month gain since January 29, 2018, when the February contract traded 12.6 cents higher on the day. Increased natural gas demand and lower production forecasts seemed to be the drivers of yesterday’s rally. Several nuclear facilities in the Southeast are offline after the impact of Hurricane Florence, additionally, planned nuclear maintenance season has begun, both of which will cause a greater reliance on natural gas demand for power burn. In LNG news, China announced they will impose a 10% tariff on U.S. LNG exports starting September 24. LNG export developers did not seem phased, and most shares rallied, as original threats indicated a 25% tariff. Calendar 2019 traded almost four cents higher yesterday, and calendars 2020-2022 gained about a penny, on average.

 

Market Update 091918

Market Settles 091818

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...

3.231.228.109