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

Daily Market Update April 11, 2019

Early Morning Update

The May19 natural gas contract is trading down $0.03 at $2.67. The May19 crude oil contract is down $0.51 at $64.10.

 

Summary

With dry production relatively flat and demand for natural gas up just slightly day-over-day, the NYMEX futures contract for May barely budged, up just a tenth of a cent, settling at $2.70/MMBtu on Wednesday. Calendar strips for 2020-2022 were all down less than a penny on a trading day rife with stagnation. Res-comm demand is expected to increase by 0.5 Bcf/d today, while power burn should drop by 1.3 Bcf/d, with overall total demand remaining flat. This should keep a lid on prompt month pricing for the immediate future. For the week ending April 5, mild weather kept res-comm demand to a six-month low. This is expected to have resulted in a storage injection for the week much greater than historical averages. Market analysts are anticipating that natural gas inventories grew by 33 Bcf for the reporting week, which compares bearishly to both the 20 Bcf withdrawal seen last year for the corresponding week, as well as the 5 Bcf five-year average injection. This would be the second injection of the year, with the deficits to both last year and the five-year average rapidly shrinking.

 

Market Update 41119

Market Settles 041019

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...

3.94.202.6