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

Daily Market Update August 14, 2019

Early Morning Update

The Sep19 natural gas contract is trading flat to yesterday’s close at $2.15.  The Sep19 crude oil contract is down $2.10 at $55.00.

Summary

Yesterday was a mixed bag for NYMEX natural gas as the near-term rebounded after falling to start the week, while the further out calendar strips tested new all-time lows. The September prompt month contract gained 4.2 cents to close at $2.147/MMBtu, and the twelve month-strip followed, as it gained 2.7 cents to $2.32/MMBtu. The upward momentum slowed out beyond the 2020 calendar strip, which climbed 1.8 cents to $2.38/MMBtu, as the 2021 strip added under half a penny, and the 2022 strip remained unchanged and at its all-time low. Calendar strips 2023 and 2025 set new all-time lows, as many of the strips out to 2031 lost about a penny and a half. Total natural gas demand has dropped from its 7-day high point set on Monday, but remains 4.2 Bcf/d higher than year-ago levels. On the other side of the supply/demand equation, production has fallen off slightly after holding at its all-time high of 90.9 for three days straight, but still remaining 8.0 Bcf/d higher year over year. Looking ahead, tomorrow’s EIA storage report is expected to report an injection higher than both last year and the 5-year average.

Market Update081419

Market Settles 081319

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