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Daily Market Update September 5, 2018

Early Morning Update

The Oct18 natural gas contract is trading up $0.02 at $2.84. The Oct18 crude contract is down $0.87 at $69.00. 



After gaining 4.2 cents during Friday’s trading session, upon cooler revisions to near-term weather outlooks and robust natural gas production over the weekend, the prompt month slid right back down, losing 9.3 cents on the day to settle at $2.823/MMBtu yesterday, the lowest October 2018 settlement since August 1, 2018. Despite longer-term bullish sentiments from growing export and domestic power burn demand with the U.S. generation mix moving towards a greater reliance on natural gas, all terms through 2024 were down yesterday, with 2023 setting a new all-time trading low at $2.5953/MMBtu. Calendar strips 2020-2024 lost an average of 1.7 cents and are now trading in a tight, 11 cent range, between $2.55-$2.66.



Market Update 090518

Market Settles 090418

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