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Daily Market Update February 12, 2019

Early Morning Update

The Mar19 natural gas contract is trading up $0.03 at $2.67. The Mar19 crude oil contract is up $1.59 at $54.00.



The natural gas market picked up some steam on Monday, adjusting to colder weather forecasts on the horizon. The March prompt month rose nearly six cents to $2.642/MMBtu, the 12-month strip gained four cents to $2.825, 2020 ticked up two cents to $2.742, and 2021 moved less than a penny to $2.637. The fairly mild outlook for the next few weeks shifted on Friday, now showing colder-than-normal temperatures enveloping most of the country to finish out February and start March. These forecasts have rekindled storage concerns, as we are once again below historical benchmarks, and colder weather would certainly increase heating demand across most of the country. While production remains 10% above last year, much of this has gone to both heating demand and power burn, as extreme cold has moved through various parts of the country.


Market Update 021219

Market Settles 021119

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