Market Updates

Daily Market Update January 10, 2019

Early Morning Update

The Feb19 natural gas contract is trading up $0.10 at $3.08. The Feb19 crude contract is down $0.76 at $51.60.

 

Summary

The February 2019 NYMEX natural gas contract rose 1.7 cents yesterday to settle at $2.984/MMBtu. U.S. total demand increased 13.9 Bcf/d from January 8 to 107.6 Bcf/d on Wednesday, driven by a large jump in the ResComm sector of 9.6 Bcf/d. Temperatures were forecast to decline eight degrees into January 9, with temperatures in the Northeast and Southeast forecast to decline significantly through the end of this week. Additionally, exports to Mexico were set to reach 5.2 Bcf/d, which would represent a record daily high. Also, nuclear outages across the country have averaged more than 4.2 GW thus far in 2019. That level represents a more than four-fold increase over the same period in 2018. In addition, no capacity is expected to come back online until January 18, indicating outages are likely to run high through the bulk of the winter.

 

Market Update 011019

Market Settles 010919

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