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

Daily Market Update March 20, 2019

Early Morning Update

The Apr19 natural gas contract is trading down $0.03 at $2.84. The Apr19 crude oil contract is down $0.43 at $58.60.

 

Summary

The Apr19 NYMEX natural gas futures contract continued its rise yesterday, gaining 2.4 cents upon settlement at $2.874/MMBtu. U.S. demand has softened since the start of March, but Liquified Natural Gas exports continue to grow, reaching an all-time high of 5.765 Bcf/d yesterday. Production remains steady at ~86 Bcf/d. We appear to be in a sideways market right now, with little to no fresh news to swing prices one way or the other. Tomorrow’s storage report could be a market mover. Currently, estimates are centered around mid to low 40s Bcf draw, which is much lower than the 87 Bcf withdrawal reported this time last year, and less than the 56 Bcf 5-year average draw. Despite gaining some ground, storage levels exiting the titular withdrawal season will be ~20% lower than last year and ~30% lower than the 5-year average.

 

Market Update 032019

Market Settles 31919

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...

35.173.234.237