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

Daily Market Update July 19, 2019

Early Morning Update

The Aug19 natural gas contract is flat at $2.28.  The Aug19 crude oil contract is up $0.49 at $55.79.


The NYMEX prompt month slid a mere $.017 yesterday as the EIA announced a smaller-than-expected build into storage of 62 Bcf.  Final estimates for the build were in the upper-60’s but the lower build wasn’t enough to spark a rally in prices as the market largely shrugged off the result.  This build was also the first in 4 months that added to the deficit to the 5-year average.  During that period, the deficit has shrunk from 33% to 5%.  Forecasts call for a very gradual reduction in the deficit for the balance of the summer, with the possibility that we could flip to a surplus by the end of injection season.  For that to happen, we’ll need production growth and a loosening of power burn demand, which would require less-hot temperatures.  Weather forecasts are, of course, blisteringly hot for this weekend, but then milder temps move in for the balance of the month. 

Market Update071919 

Market Settles 071819