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Daily Market Update December 31, 2019

Early Morning Update

The Feb20 natural gas contract is trading down $0.02 at $2.16.  The Feb20 crude oil contract is down $0.95 at $60.73.

 

 

Summary

On the first day with the Feb ‘20 contract as the prompt month, it fell $.045 to close the day at $2.186.  As the Jan ‘20 contract has expired, so has the Cal ‘20 contract.  Mild weather forecasts are still calling for above average temperatures into mid-January along the east coast.  The exception to that forecast is NOAA (as you can see below) who shows some colder temps.  But the market is largely ignoring NOAA and focusing on private vendors who continue to show milder temps and anticipated lower demand.  That has kept steady pressure on the gas and power markets and it’s hard to see a case for a strong rally in the short-term, absent a change in weather forecast.  
As for the markets today, expect low liquidity as the year wraps up.  Markets should start to return to normal on Thursday.  
Happy New Year everyone, see you in 2020.

Market Update123119

Market Settles 123019

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