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Daily Market Update April 8, 2019

Early Morning Update

The May19 natural gas contract is unchanged at $2.66. The May19 crude oil contract is up $0.36 at $63.44.



The NYMEX prompt gained $.021 on Friday to end the week at $2.664.  Week over week, the NYMEX prompt was very unchanged, going from 2.662 to 2.664, highlighting the lack of volatility and the quiet nature of the market.  With little change to the fundamentals, traders have been content to limit large swings in prices, making this spring an especially quiet one.  NG production seems to have levelled off, at least for the time being, and demand is also steady, so there is little reason for the market to exhibit much volatility.  Index pricing also remains mostly very quiet, which is what most people hope for this time of year.  Last April was a different story as cold temps and high demand led to more volatility, but the fundamentals could hardly be more steady right now so there isn’t much reason for big price swings.  What could change the momentum are summer weather forecasts, which are due out of the next few weeks.  


Market Update 040819

Market Settles 040519

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