Market Updates

Daily Market Update July 10, 2019

Early Morning Update

The Aug19 natural gas contract is trading up $0.02 at $2.44.  The Aug19 crude oil contract is up $1.32 at $59.15.

Summary

Increasing demand brought on by warm weather continued to pressure near-term natural gas prices yesterday, as the prompt month gained another 2.2 cents, settling at $2.425/MMBtu. The 12-month and 2020 calendar strips each gained four cents, while the 2021-2024 calendar strips all rose a penny or two. Natural gas production had remained strong coming out of the 4th of July holiday, averaging over 88 Bcf/d, but has since declined to 87.4 Bcf/d yesterday, and is forecast to be 86.1 Bcf/d today. Total U.S. demand for natural gas reached a 7-day high of 75.5 Bcf/day on the heels of stronger power burns and elevated LNG exports. The U.S. Energy Information Administration will release their natural gas storage report for the week ended July 5th tomorrow.  Once again, it’s expected to continue the trend of reporting a greater injection than both last year and the 5-year average. If this comes to fruition, it will be the 17th report in a row to cut into the deficit to the 5-year average.

Market Update071019 

Market Settles 070919

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...

35.175.200.4