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

Daily Market Update February 26, 2019

Early Morning Update

The Mar19 natural gas contract is trading up $0.04 at $2.88. The Apr19 crude oil contract is down $0.23 at $55.25.

 

Summary

Near-term natural gas had a small rally on Monday, reacting to updated weather forecasts over the weekend indicating elongated colder temperatures to start March. The prompt month gained nearly 12 cents to $2.836/MMBtu, the 12-month strip rose five cents to $2.934, 2020 ticked up just under a penny to $2.747, and 2021 stayed flat at $2.633. It seems that movement had been relatively centered around the spring and summer 2019 periods, indicating potential concern for available storage as we move through the remaining weeks of the withdrawal season. Demand continues to remain high, with February levels not seen since the polar vortex of 2014. Production is still steady at 85 Bcf/d, but as we are already at a deficit to historical storage benchmarks, the withdrawal outlook for the rest of the winter looks to remain strong. End-of-season storage level projections continue to slip, and are currently at 1,115 Bcf. 

 

Market Update 022619

Market Settles 022519

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...

3.94.202.6