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

Daily Market Update July 9, 2019

Early Morning Update

The Aug19 natural gas contract is trading down $0.01 at $2.39.  The Aug19 crude oil contract is up $0.14 at $57.80. 


After the August NYMEX contract surged 13 cents last Friday, the prompt month weakened 1.5 cents during yesterday’s trading activity. This slight price decrease day-over-day could have been the result of updated weather forecasts showing slightly cooler temperatures for the next few days. Most of the gas market movement was concentrated to the short-term, as forward prices through calendar strips 2025 fell less than a penny. However, longer-term weather forecasts could be potentially bullish for the market, as some strong heat waves are anticipated in the East and Midwest in the 11-20 day outlook. Yesterday’s slide comes after record high production levels were reached over the holiday weekend, averaging about 88.6 Bcf/d. Although production slipped 2.3 Bcf/d yesterday, high production levels are expected to continue for the rest of the year, with Platts Analytics estimating productions levels to hit nearly 90 Bcf/d in December. Meanwhile, on the demand side, LNG exports hit a record daily high of 6.32 Bcf. This can be attributed to continued gains from Cameron Train 1 and Corpus Christi Train 2.

Market Update070919 

Market Settles 070819

To subscribe to Daily Market updates please visit