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

Daily Market Update April 17, 2019

Early Morning Update

The May19 natural gas contract is trading down $0.01 at $2.56. The May19 crude oil contract is up $0.33 at $64.40.

 

Summary

Tuesday proved to be another quiet day for NYMEX natural gas futures, as the prompt month contract lost 1.8 cents to close at $2.572/MMBtu. Since making its debut as the prompt, the May 2019 contract has lost $0.14 cents. With bearish conditions challenging the near-term, current prices could be close to the bottom, as some analysts believe prices could reach a $2.50 floor. U.S. dry natural gas production has been steady, averaging 86.6 Bcf/d for the month of April, 8.0 Bcf/d higher than April 2018. Mild, spring-like temperatures are forecast for the foreseeable future, leading to even lower demand. As a result, the year-over-year storage deficit is expected to be erased over the next two weeks. Tomorrow’s report from the U.S. Energy Information Administration is expected to be a ~95 Bcf injection, which compares to a 34 Bcf withdrawal reported this time last year. Calendar strip pricing was mostly unchanged yesterday, 2020-2023 are all between $2.67 and $2.75.

 

Market Update 041719

Market Settles 04162019

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...

3.226.251.81