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Daily Market Update June 18, 2019

Early Morning Update

The Jul19 natural gas contract is trading down $0.02 at $2.37.  The Jul19 crude oil contract is up $0.67 at $52.60.

   

Summary

With June’s mild temperatures expected to continue, the demand for power generation is still lacking. Coupled with strong gas production, the recent low gas prices remain steady, as the NYMEX natural gas prompt month price settled yesterday at $2.386/MMBtu. This price is only 0.1 cent lower than Friday’s close, but 57.8 cents lower than the prompt month last year at this time. The Q4’19 NYMEX strip was down 1.2 cents at $2.515/MMBtu, while the 2020-2025 forward calendar strips all experienced minimal change, varying only a couple cents in gain and loss. Near term weather forecasts show the Northeast and Mid-Atlantic to experience cooler-than-normal temperatures for the rest of the week, while the West Coast and Texas are heating up for the same term.

Market Update061819

Market Settles 061719

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