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Daily Market Update December 30, 2019

Early Morning Update

The Feb20 natural gas contract is trading down $0.01 at $2.22.  The Feb20 crude oil contract is up $0.38 at $62.10.

 

 

Summary

The Jan ‘20 NYMEX NG contract took a nosedive on its final day of trading, moving down $.136 to expire at $2.158.  The Feb ‘20 contract is now the prompt month.  Weather forecasts continue to show milder temps this week as this weather pattern  that has been bringing above average temperatures remains in place.  With these milder temps, demand has been down and index prices have also been low, with prices more common for shoulder season that for winter.  
On Friday, the EIA did report a slightly larger-than-expected draw of 161 Bcf  The report did little to influence the market as traders remain focused on the warmer temps and lower demand that is currently being forecasted.  Liquidity is likely to remain poor today and tomorrow with the market slowly coming back to life on Thursday.

Market Update123019

Market Settles 122719

 

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