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Daily Market Update February 5, 2019

Early Morning Update

The Mar19 natural gas contract is trading up $0.02 at $2.68. The Mar19 crude oil contract is down $0.61 at $53.95.



Monday saw additional market softening as weather and demand pressure are releasing following last week’s cold snap. The March prompt month dropped seven cents to $2.66, the 12-month strip slid nearly five cents to $2.791, and the 2020 and 2021 years ticked down by around a penny each to $2.686 and $2.608, respectively. A big warm-up across the Southeast, Midwest, and East Coast is currently in motion, with temperatures at least three to five degrees above normal helping to keep demand in check. Total U.S. demand has decreased by over 35% since hitting the yearly high last week. Also helping decrease demand are diminished LNG feedgas deliveries at Corpus Christi and likely at Sabine Pass, as well, which has brought LNG demand down to levels not seen since the beginning of 2018.


Market Update 020519

Market Settles 020419

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